NIFTY Daily Chart Technical Analysis:
NIFTY has been falling since the past few days as expected (Check my previous post on NIFTY to see we had expected this fall). It has finally reached near its support line.
The 5500-5550 is an important level and NIFTY is expected to bounce back from here. If it bounces back it might be a good time to expect a bull run.
But if it falls below 5500 and closes below this level for a couple of days, then we might face a further fall and it might take a while for NIFTY to recover.
The next couple of days will be important in taking a positional call on NIFTY.
NIFTY Daily Chart Technical Analysis
