Downward Channel on NIFTY50

1. Downward channel on NIFTY50 weekly chart may lead to 21400-21500 range in short term.
2. Pivot S1 indicate 21100 levels
3. The gap-up on 4th Dec 2023 corresponds to support levels but that is too far to discuss now, though we will keep track on it.
4. Trend line from lower fractal lows, 3rd June 2024 (Lok sabha election result day) low is breached on week starting 13th Jan 2025.