Nifty 500 Filled the GAP. Will it reverse from here?
After forming a C&H ( luring bulls) nifty broke down from the handle and filled a gap at 22262 area.
- Taking support exactly at 200 DMA.
-Trading below 50 DMA.
-Breakdown and close below 22262( 200DMA support and Gap Support) can bring it all the way down to 21694 which will be the last hope for bulls.
What are your thoughts? Can we expect more downside or a reversal? Is this just December profit bookings and shakeouts?
- Taking support exactly at 200 DMA.
-Trading below 50 DMA.
-Breakdown and close below 22262( 200DMA support and Gap Support) can bring it all the way down to 21694 which will be the last hope for bulls.
What are your thoughts? Can we expect more downside or a reversal? Is this just December profit bookings and shakeouts?
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