In the upcoming week, a cautious outlook is warranted for Nifty 50 as we have witnessed a substantial rally thus far. The pivotal level to monitor is 21475, where a sustained breach could pave the way for a significant downward momentum. Conversely, a bullish scenario would require Nifty to establish itself above 21675, potentially leading to an upswing with a target around 21800.
Currently, a sense of caution prevails, leaning towards a bearish sentiment. The observation of a broken trendline adds weight to this perspective, suggesting a potential retest. On the downside, if the index sustains below 21475, a bearish trajectory towards 20500 to 20600 is anticipated.
It is important to note that this analysis is speculative and not provided by a SEBI registered professional. The information is shared solely for educational purposes, and individuals should conduct their own research and seek advice from financial experts before making any investment decisions.
#Nifty50
Currently, a sense of caution prevails, leaning towards a bearish sentiment. The observation of a broken trendline adds weight to this perspective, suggesting a potential retest. On the downside, if the index sustains below 21475, a bearish trajectory towards 20500 to 20600 is anticipated.
It is important to note that this analysis is speculative and not provided by a SEBI registered professional. The information is shared solely for educational purposes, and individuals should conduct their own research and seek advice from financial experts before making any investment decisions.
#Nifty50