Nifty 50 Analysis for this week in Daily timeframe
3. Final Nifty Analysis -
1. Major Support - 17400 zone.
Major Resistance - 18000, 18340, 18600.
2. Past Trend - Up, correction is going on and it is deep with multiple legs, 2
3. Strength/Weakness - current strength is in down as shown by last fall from 18340 to 17613, in fact this down move was stronger than before.
4. Future Trend -
a. strength -> is in Down
b. Correction going on,
Conclusion - i expect another down move
breaking 17613. Next major support 17400.
5. I will be proven wrong if this breaks 18342 with strength in coming days, will update analysis then.
1. Major Support - 17400 zone.
Major Resistance - 18000, 18340, 18600.
2. Past Trend - Up, correction is going on and it is deep with multiple legs, 2
3. Strength/Weakness - current strength is in down as shown by last fall from 18340 to 17613, in fact this down move was stronger than before.
4. Future Trend -
a. strength -> is in Down
b. Correction going on,
Conclusion - i expect another down move
breaking 17613. Next major support 17400.
5. I will be proven wrong if this breaks 18342 with strength in coming days, will update analysis then.
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