CMP : 4335
Nifty Hourly Charts Indicating a strong downtrend Channel. And this time possibly Nifty may test 4156-4200 levels.
Iam not too much bearish on nifty stocks.Because for me it looks like a well manipulated game by the operators to slide the Nifty well above and outside trendline as shown and to move the market up from there. And Chance of reversal anywhere between 4156-4200 levels should be used as a buy on dips investing strategy.One should be highly bearish only if nifty dips below the trendline.
Till then Nifty remains a pure buy rating.
Related Readings and Observations
Shorter term GANN Fan Update for Nifty
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