Bearish on Nifty for this Week

Strong Bearish Candle Closing on Weekly, indicates further correction to levels 10562 (50%) and 10416 (38.2%) Fibo Levels.

With the Karnataka Election Results settling down against BJP, markets sentiments for BJP's Victory in 2019 are dented and that will show up in price for the next few sessions.

Yet, NIfty can still comeback in full force buying after retracements.

A Cypher Pattern also confirmed NIFTY SELL at 10900 Levels, but I will be booking profits or atleast partially book and move stop losses in Profits.

Kommentar:

38.2 Level for Nifty was 10416.

Nifty's Last week Low was 10417

That's how accurate technicals are sometimes