LONG TERM BULLISH STRUCTURE OF NIFTY 50 IS INTACT.
In Short Term we might see some pullback due to 2 reversal patterns and also formation of head and shoulders
Support levels have been discussed in the chart.
Reasons for pullback
1.Weak global cues
2.Rising crude prices
3.Bearish engulfing pattern
4.Island reversal pattern
5.Formation of H&S
6.Multiple rejections from 17800 levels
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Till then,
HAPPY TRADING :)
In Short Term we might see some pullback due to 2 reversal patterns and also formation of head and shoulders
Support levels have been discussed in the chart.
Reasons for pullback
1.Weak global cues
2.Rising crude prices
3.Bearish engulfing pattern
4.Island reversal pattern
5.Formation of H&S
6.Multiple rejections from 17800 levels
FOLLOW me for more such content ahead.Do hit the like button if you gained something from the post
Till then,
HAPPY TRADING :)