Weekly charts of Nifty are in a clear bear trend, the up trend which the markets are witnessing now is a technical rally from the bullish strength the daily charts have developed after the previous bear run. 5200 will pose a very strong resistance on the NIFTY in the current run, but with the daily charts showing strength, there is a possibility of Nifty breaching the 5200 resistance briefly.
Short trade of the Nifty is in the offing, a first down close day can be used for short entry for a target of 4800 and below. Keep a watch on this sure shot trade that is likely to come shortly.
Short trade of the Nifty is in the offing, a first down close day can be used for short entry for a target of 4800 and below. Keep a watch on this sure shot trade that is likely to come shortly.
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