UPDATED REPORT
CNX NIFTY:-
Nifty is showing bearish signals
Recent nifty charts suggest that nifty is getting back to level of 8400+ or even 8500 soon
Nifty breaks 8000 levels on closing basis then down side basis movement continue till 7500-7300
Charts shows that we are in bottom and as soon we can witness REVERSAL or FALL which will result in upward thrust leading nifty toward 8400+
Upward thrust can be around 8600 or downward thrust can be around 7500-7300
If nifty catches upward direction then structure of nifty should be steep and very impulsive
The W Formation still have one leg upside to form
W formation gets activated then nifty can rise to 8600+ marks
CNX NIFTY:-
Nifty is showing bearish signals
Recent nifty charts suggest that nifty is getting back to level of 8400+ or even 8500 soon
Nifty breaks 8000 levels on closing basis then down side basis movement continue till 7500-7300
Charts shows that we are in bottom and as soon we can witness REVERSAL or FALL which will result in upward thrust leading nifty toward 8400+
Upward thrust can be around 8600 or downward thrust can be around 7500-7300
If nifty catches upward direction then structure of nifty should be steep and very impulsive
The W Formation still have one leg upside to form
W formation gets activated then nifty can rise to 8600+ marks
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