Good morning friends,
Above is the hourly chart of Nifty. We can clearly see the levels of 18050 to 17950 as good trading support. If market rebounded from current zone then we can expect rebound to sustain.
Above is the most likely scenario.
Let us see the alter sense also. If Nifty breaks 17950 by any chance then Nifty will be in worse shape of recent time. It can go to drag towards levels of 17600-17500 levels. Who knows what can change if that happens.
[Note - I am also studying monthly chart which is suggesting me that this super rally will end either by this year end or max by early next year. Anyhow it looks as bearish 2022. Hence avoid fresh investment].
Happy Trdaing
