Nifty medium term analysis based on Weekly Charts
Nifty is trading at support levels on weekly charts.
1. If Nifty breaks & closes below the trendline support may indicate loss of upward momentum (from Dec'20).
2. If Nifty breaks & closes below previous swing low of 17613 on weekly basis (previous swing low), it will confirm down trend with targets of around 16000-16200 levels
3. If Nifty closes above previous swing high of 18605 on weekly basis (previous swing high), it is likely to make new All Time Highs (ATH) around 20,000 Levels.
1. If Nifty breaks & closes below the trendline support may indicate loss of upward momentum (from Dec'20).
2. If Nifty breaks & closes below previous swing low of 17613 on weekly basis (previous swing low), it will confirm down trend with targets of around 16000-16200 levels
3. If Nifty closes above previous swing high of 18605 on weekly basis (previous swing high), it is likely to make new All Time Highs (ATH) around 20,000 Levels.
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