Financial Updates

Nifty- The road ahead

Stock market
Nifty- The road ahead

Above is the Nifty Daily Chart

As you can see from the chart above that the Red Trend Line which is a long term primary trend is broken already and nifty is making Lower top lower bottom formation.

Blue trend line is the medium term trend and that is also down so as for now market is in down trend on two larger time frame.

Green horizontal line is the area of support which is around 16000 levels. This is the strong area of demand and if any correction happens now we shall see the levels of 16000 on screen.

For uptrend to happen market must cross and breakout above the blue trend line which will act as strong resistance for now and there after major hurdle will be the primary trend line marked in red color

Use the opportunity as and when comes around 16000 to invest in Indian Stock Market for long term.

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