nifty50 , nothing but dead cat bounce , before falling to 10000

10 Ağu 2019

daily & weekly screaming for good fall , major resistance here on 11123 zone ...confluence of both daily & weekly SMAs onsame resistance zone(neckline), on daily its 200 day SMA & on weekly its 50 day sma , Price action has touched the SMAs & retraced back , on little longer term i expect price action to touch 10,000 on #nifty50 .
on short term i expect this bounce to fizzle out from 11123 only & start declining towards 10000 .