Nifty is in down trend
Primary Trend for a week on a 15 min time frame is uptrend. But last 1 one hour of previous trading day there was a huge selling. Nifty has fallen about 300 points and closed at 17111.06 that is below near weekly pivot of 17102.55.
Nifty is trading between 16800 to 17400 for 2 weeks. Everytime it broken 17000 on lower side it took support around 16800 to 16900 and bounced back to 17000. In previous fall there was a support around these levels that's holding the nifty from falling.
Because of weakness in global markets SGX nifty indicating open gapdown about 200points at 16900. That is Far below daily pivot of 17177.82 and weekly pivot of 1722.97
Nifty is trading between 16800 to 17400 for 2 weeks. Everytime it broken 17000 on lower side it took support around 16800 to 16900 and bounced back to 17000. In previous fall there was a support around these levels that's holding the nifty from falling.
Because of weakness in global markets SGX nifty indicating open gapdown about 200points at 16900. That is Far below daily pivot of 17177.82 and weekly pivot of 1722.97
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