Hey guys, this is my first idea to be published.
This chart is a linear regression on Nifty close since 2000. If we look closely there are certain patterns that emerge. Since December 20th, I have been extremely bearish on Nifty as it closed above the third line. I expect that if we don't hold 10850. we could go into a bear market. However, we could also hold the 200 week average at roughly 10600 area.
My analysis is we touch 10850 for sure, If we break cleanly then we test 10600-10650 and if we break that too, It is a bloodbath.
Trade well
P.S. constructive criticism is appreciated
This chart is a linear regression on Nifty close since 2000. If we look closely there are certain patterns that emerge. Since December 20th, I have been extremely bearish on Nifty as it closed above the third line. I expect that if we don't hold 10850. we could go into a bear market. However, we could also hold the 200 week average at roughly 10600 area.
My analysis is we touch 10850 for sure, If we break cleanly then we test 10600-10650 and if we break that too, It is a bloodbath.
Trade well
P.S. constructive criticism is appreciated