As we had been analysing since past few days that NIFTY just broke its trendline below and turned itself from uptrend to DOWNTREND with the break of previous swing leading to change of characteristics. Moreover we can see NIFTY has formed more like Head and Shoulders pattern which is also a REVERSAL pattern which could potentially change the overall trend to downtrend with the very break of its neckline.
The neckline of the following pattern can be seen around 18650 levels on the break of which we can expect NIFTY to attain a psychological level and its next immediate swing at 18500 levels which can potentially act as a SUPPORT so keep watching everyone ].
The neckline of the following pattern can be seen around 18650 levels on the break of which we can expect NIFTY to attain a psychological level and its next immediate swing at 18500 levels which can potentially act as a SUPPORT so keep watching everyone ].