Nifty Analysis for Long Term View

Previous Bullish View (4th October)

Strong candle closed on the trendline
Nifty moved up 200 points post-closure

Current Scenario

Reversal occurred
Closed below the trendline
Trendline currently acting as resistance

Bullish Scenario Requirements

Nifty needs to make a strong close above the trendline

Key Points for Traders

Watch for a convincing break and close above the trendline
Monitor volume on bullish moves
Be cautious of false breakouts; confirm with subsequent price action
Consider the broader market context and any upcoming economic events