bbrijesh
Short

Nifty - At crucial resistance

NSE_EOD:NIFTY   Nifty 50
Nifty             rallied to 8,200 on the back of surprise repo rate cut of 50bps by RBI. The rise from ~7,700 ro ~8,200 in 5 trading days seems tiring around 200DEMA (Daily Exponential Moving Average ) which is at 8,184. Also the bearish AB=CD harmonic reversal pattern is visible on charts at the upper line of Andrew's Pitchfork tool. The failure to move above 8,270 can take index back to 7,900-7,800 levels.
UPDATE PLEASE.
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Glad to hear that. Any time frame when these downward levels will be reached?
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THANKS,
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