Trend-lines help identify and decipher the haphazard movements and help us anticipate the possible moves we can see for nifty in the next coming days.
There is a probability of Nifty making highs upto 9500 levels in the immediate future. Breakout from the trend lines if any to sustain should be supported by the volume.
Long term outlook is bearish, but the descent will be painstakingly gradual and grinding. Bottom is not expected to be created in coming weeks but probably in next 6-8 months. Hence all swing positions to be exited once nifty nears the upper trend line.
There is a probability of Nifty making highs upto 9500 levels in the immediate future. Breakout from the trend lines if any to sustain should be supported by the volume.
Long term outlook is bearish, but the descent will be painstakingly gradual and grinding. Bottom is not expected to be created in coming weeks but probably in next 6-8 months. Hence all swing positions to be exited once nifty nears the upper trend line.
Comment:
We may wait for certain positive news or events to unfold that may propel the spot to the higher limits of the trendline.