As mentioned in our last post, Nifty continued its downward journey outside the channel, more or less confirming the breakdown. Please see the chart above, which is depicting the Nifty futures weekly chart as on market closing on 26th Feb. Its look set for a further downward journey reaching 5600 very soon and may extend all the way upto 5300. Only way, as it seems now, a big upmove on the budget day - how many are betting in favour of that ? - can save the situation technically. A weekly close around 5850-5880 can show some sign of hope for the bulls. Otherwise, bears are firmly in control now.
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2 comments:
should I exit my portfolio now or wait?
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