EQUITY MARKETS AT THE EDGE – WHAT TO EXPECT? (2MIN READ)

POST-MARKET REPORT

ARRANGE LOTS OF CASH FOR THE COMING DISCOUNT SALE…..

> The index has been making lower highs and lower lows for the last 3 months and it has formed a #BEARISH CANDLE on the monthly scale.

> This indicates #WEAKNESS in the trend and it is hovering near 200SMA which is placed near to 17385 zone.

> On the daily scale, Nifty has been making lower top – lower bottom and resistances are GRADUALLY SHIFTING LOWER.

> The overall chart structure suggests WEAKNESS in the SHORT-TERM trend.

> But it is near a key support zone which requires a small follow-up action to CHANGE the MARKET MOOOD.

POSSIBLE CONCLUSION

> It requires a decisive hold above 17442 zones, to witness a relief or recovery towards 17777 and 18000 zones

> On the downside supports are drifting lower at 17000-16800 zones.

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#nifty #banknifty #sensex #marketstoday #tradingstrategy #investing

(this information is for educational purposes and not investment advice or trading tips. Please consult your #financialadvisor before trading or investing)