Today Nifty failed to close above 24460 strong support zone and tested thursday low once again . Since the index is in oversold territory the closing is not good on daily and weekly timeframe shown in charts below.
This week’s closing is below 13 week’s low . If we look at charts there is selling pressure clearly visible on every bounce on the Index and failed to cross previous swing high , In short the bounces we have seen recently were not sustainable.
Lower level supports already given on nifty charts below i.e 23900-24000 zone.
The reason of this sell off is global uncertainty and tariff imposed by USA on India .
My advise for retail Investors: Always try to be calm and be patient in this type of market corrections. These dips are more benificial for long term wealth creation. Plan your investments wisely and try to take benefit of these type of falls. Try to avoid the noise for better decision making.
Short term traders should avoid trading for some days , because no clear trend is visible on the Index, so do not try unneccesary trades.
NIFTY WEEKLY AND 4 HOUR CHARTS
Nhi jayenga sir 23800 tak
Thanx
Very nice information sir ji. Fii’s and dii’s data ke hisaab se to aaj nifty 2 percent up hona chahiye.
Achaa š
Aapki himmat denewajah se bahut log tension free hai sir…bhagwan khud nahi milte hai,apne jaise kisi se mila dete hai..
šš
Pehle market ko niche lga dete hai phir fii ki buying suru hoti hai ššš
Yess
Jhukega nahin sala fir 25200 par karega ššššš
Hahah
Very nice analysis š Thank you sir
Ur welcome sir
Darne ka nahi jo rukega wo tikega
Yesss
Six red candles on weekly basis .. terrifying š¬
Its healthy correction for investors
Gap fill ho gya ab thik hai
š
Jada niche ka chance kam h
Ryt