Nifty 50 Analysis - TEST OF 15500 ?
1. This Up Move started from 15500 in WEEKLY time frame, so this is very important level. Trend is still up in Weekly.
2. But trend is down in daily. AS NIFTY SUSTAINED BELOW 16400( was already explained in previous post, check linked idea) EXPECTATION IS OF TEST OF 15500-15600 ZONE. BOUNCE IS EXPECTED FROM THERE.
3. If gives closing below 15500 in weekly then we will have Downtrend even in weekly time frame.
4. Our premise will be invalidated is NIFTY sustains above 16800 in daily time frame, expect 17800, 18300 then.
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