nifty future

educational purpose only

I come bearing the same old news. hourly chart of nifty future shows that we continue to be in a bear market. Yes, there would be bounce back but a trend reversal is no where in sight just as yet.

I've marked all the important levels to be considered as resistances and support on the charts.

the point to notice is that there are way more resistance levels over support. the resisting trendline has not be breached yet but the supporting trendline has been crash many a times and this indicates selling pressure on nifty futures.

my strategy remains the same, sell on rise