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NSE NIFTY Rebound Change Of Trend Or Just A Correction?

Free nse nifty chart calls

Free nse nifty chart calls

Nifty has been forming a downtrend channel for 140 days. After creating excess on the descending channel, the price has surged sharply.

Price surge stopped between the range of 17110 – 17144. It connotes that nifty can give a big move after the breakout of the parallel channel.

If the Nifty breaches the upper band, we can expect 17365 – 17562 – 1760.

The breakdown of the lower boundary can drive the nifty up to 17026 – 16955 – 16880.

Otherwise, nifty will be the value area until it breaks these levels.

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Mr.Guru is a registered investment advisor for Moneymunch, he is a regular guest on popular channels and writes for several newspapers and financial journals. They've black magic of stock market analysis because studied charts over 20 years.

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