Nifty Bearish - Ichomoku cloud break out in daily- hourly chart.

22 May 2020

Nifty 50 giving the break out of Leading Span A in daily chart which would mean a bearish days ahead. Would wait for a day to confirm if the Nifty breakouts 8800 level which is 4 hourly Lead span A break out. This should give a clean fall towards the first target of 8306 which is also a 50% retrenchment from the low point of 7500 . Second target (if Nifty break outs 8306) would be 8000 which would be 78.6% retrenchment.