Nifty's Dark Clouds Gather: Bearish Sentiment Takes Hold

13 Okt 2024

• After reaching a high near 26,280, the index encountered considerable resistance and subsequently fell.
  
• A Head & Shoulders pattern is currently developing, leading to a negative sentiment in the market.
  
• If the neckline is broken, the index may quickly decline to the 24,000 level. This level will be critical in assessing whether the index can bounce back or if it will drop below the support level.

23 Okt 2024

Nota

● The neckline of the Head & Shoulder pattern has been breached.
● There is a significant possibility that Nifty may experience a decline to the 24,000 level.

3 Nov 2024

Nota

● Nifty is presently consolidating just above the support level.
● However, if the index falls below 24,000, we could see a continuation of the downward trend.