NIFTY50 - ASCENDING CHANNEL - MONTHLY CHART.
Nifty is currently trading within an ascending channel and remains significantly above the 50 EMA. On the weekly chart, it is forming a double bottom pattern.
The recent market decline is attributed to the US Fed's rate cut and hawkish commentary. Based on technical analysis, open interest (OI) data, and market news, there is a likelihood of the Nifty reaching the 23,000 level.
*This analysis is based on my personal understanding and for learning and educational purposes only, not a trading advice. Pls consult your financial advisor before investing.
Nifty is currently trading within an ascending channel and remains significantly above the 50 EMA. On the weekly chart, it is forming a double bottom pattern.
The recent market decline is attributed to the US Fed's rate cut and hawkish commentary. Based on technical analysis, open interest (OI) data, and market news, there is a likelihood of the Nifty reaching the 23,000 level.
*This analysis is based on my personal understanding and for learning and educational purposes only, not a trading advice. Pls consult your financial advisor before investing.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.