Good morning friends,
Above is the daily chart of Nifty. I have few big words today. Charts are suggesting that trend might change. Why do I am saying that.
Above is the channel breakout pattern and that's the really brutal breakout yesterday with not even any single intraday recovery.
Next resistance is 18050 (Might tested), 18150 (Less chance), 18350 (Only above this up trend will resume).
How dip can this market fall immediately. Fine, I am giving extreme possibility and that is 17400 levels. It doesn't mean you add shorts at any levels. It is a view and you need to adjust trading with proper risk and reward ratio.
Can we expect a bounce today? I cannot deny.
Happy Trading.
