This is for education purpose only and may not be useful for trading
Trailing stoploss for short positions brought down to 2980. Earlier this was 3
120 and then 3020.
Next week, watch for break of 2900 for further confirmation of weakness. This will be an important support and crucial trend decider. Watch RSI trendline on EOD charts for support.
Contrarian view: as nifty is trading within channel, a pullback is possible.
Also, nifty is nearing oversold levels on hourly charts (RSI). The region at 2800-2850 will provide strong support.
120 and then 3020.Next week, watch for break of 2900 for further confirmation of weakness. This will be an important support and crucial trend decider. Watch RSI trendline on EOD charts for support.
Contrarian view: as nifty is trading within channel, a pullback is possible.
Also, nifty is nearing oversold levels on hourly charts (RSI). The region at 2800-2850 will provide strong support.
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