Will nifty break down further?

22 Okt

if focusing on long term trendlines, Nifty grew faster shifting from trendlines 1 to 2 to 3. The slope of trendline 3 is too steep but this trendlines is still maintained. However, this much of slope is not sustainable in long run and there is great probability that this trendline 3 may be broken soon and in that case the price action may take support on trendline 2 which seems sustainable in medium to long term. The trendline 3 will be considered penetrated if 2 successive candle form completely below the line.

Wait and watch..