As observed on the weekly chart of Nifty 50 bulls have nothing to worry as of now as the uptrend is intact.
The previous swing low (10637+) is is intact and its still trading above 200 Wk SMA (which is currently at 10290)
Nifty is currently at 61.8% retracement level from the March 2018 low to Jan 2020 high (all time high)
Bulls who are going long now without worrying about Corona Virus will most likely get coronated later part of the year! As I said we are in good position as long as preious swing low and 200 Wk SMA are still intact.
Cheers,
tRex
The previous swing low (10637+) is is intact and its still trading above 200 Wk SMA (which is currently at 10290)
Nifty is currently at 61.8% retracement level from the March 2018 low to Jan 2020 high (all time high)
Bulls who are going long now without worrying about Corona Virus will most likely get coronated later part of the year! As I said we are in good position as long as preious swing low and 200 Wk SMA are still intact.
Cheers,
tRex
Operación cerrada: precio stop alcanzado
Previous HL of 10637 broken todayNota
I tuned bearish the moment 10637 was broken. To add more weightage to this view Nifty closed below its 200 Wk SMA on weekly chart.
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.