NIFTY 50 - Be Cautious below 14250
Nifty has been moving in a descending channel forming 3 VCP.
A breakdown could prove fatal and unfortunately chances for a break down are more.
Watch out for very strict breakdown below 14250 because MACD is already weak and it could trigger a bigger fall.
The bullish divergence could see a minor pullback but under the situation don't construe it as a recovery. It could just be that pull back before the fall.
I would suggest fresh entries only above a good closing over 14950.
For all the charts I have posted, please revise your stop loss based on your risk appetite.
A breakdown could prove fatal and unfortunately chances for a break down are more.
Watch out for very strict breakdown below 14250 because MACD is already weak and it could trigger a bigger fall.
The bullish divergence could see a minor pullback but under the situation don't construe it as a recovery. It could just be that pull back before the fall.
I would suggest fresh entries only above a good closing over 14950.
For all the charts I have posted, please revise your stop loss based on your risk appetite.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.