NIFTY--Retracement or Reversal ??

١٠ سبتمبر ٢٠٢٣

The price has exhibited significant bullish momentum starting from the 19,200 levels. However, before attempting to challenge the bearish gap left at the all-time high (ATH), it's likely to experience retracements towards previous resistance levels.

Should these resistance levels fail to sustain upward pressure, a notable bearish reversal could become apparent. Following a period of strong bullish movement, the price appears to have entered a ranging phase.

During this phase, it may be prudent to consider short positions, anticipating the possibility of price offering discounts before potentially resuming its upward trajectory.

If retracement failed, they will take the price entirely to the bottom side...keep safe before long. Reversal may occur.