NIFTY: Still Sideways

NIFTY Daily Chart Technical Analysis:

NIFTY had another big fall today, but in fact it was just another sideways movement with a slightly lower close.

Close & CMP: 5396

Market Outlook:

• The price made a sharp U-turn today and showed its bearish intentions, after attempting a recovery yesterday.
• NIFTY has remained above 5350, below which things start getting dangerous and another big fall could be expected.
• NIFTY ने गिरना जारी रखा. बेर्स ने मार्केट पर अपना कण्ट्रोल जमा रखा है. ५३५० महत्त्वपूर्ण सप्पोर्ट है. 

Technical Indicators:

• Yet another bearish engulfing pattern occurred today.
• The move was strong considering the range and volume.
• Currently, market is sideways and resting on an important support line.

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NIFTY Daily Chart Technical Analysis