Nifty Weekly Outlook - Bearish

Hello Traders,

We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed double top pattern which also indicates the price reversal. Moreover, RSI indicator is also showing negative divergence. Considering all these aspects, we feel that in coming weeks, we may see weakness and bearishness in Nifty.

Thanks you.

Have a great weekend.

Happy Trading!!!