Nifty Bullish Trend Analysis 22-11-2021
If you see my previous post about Nifty touching 17600, you will see I have said that if Nifty gives breakout above 17460 to 17480 then it will move to 17600 and we can expect a reversal from there. But Nifty moved 200 points more higher and made a new lifetime high of round about 17800.
After hitting 17800 a reversal started and Nifty fell 200 points from top of 17800. On 21st August 2021 Nifty made a low of 17320, if we count from 17800 to 17320 then it's almost 500 points reversal. And after touching the low of 17320 Nifty moved up 250 points.
From last one or two months Nifty isn't following Global trend properly, instead it is run by "BUY ON DIP" sentiment. On 22nd August 2021 Nifty may retest 17620 to 17650 level. A breakout above 17650 may lead Nifty to 17800 again and if Nifty reverse from 17650 then again it may come to 17400 to 17320.
After hitting 17800 a reversal started and Nifty fell 200 points from top of 17800. On 21st August 2021 Nifty made a low of 17320, if we count from 17800 to 17320 then it's almost 500 points reversal. And after touching the low of 17320 Nifty moved up 250 points.
From last one or two months Nifty isn't following Global trend properly, instead it is run by "BUY ON DIP" sentiment. On 22nd August 2021 Nifty may retest 17620 to 17650 level. A breakout above 17650 may lead Nifty to 17800 again and if Nifty reverse from 17650 then again it may come to 17400 to 17320.
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