Nifty failed to sustain 5070 and today it closed at a psychological level of 5000.
Yesterday mkt was positive after a gap up opening at a downside.
today it closed negative with opening at yesterday closing level and closed below the low of yesterday.
Engulfing candlestick pattern is formed indicating a downfall tomorrow as well.
nxt support is at 4950(61.8% retracement) and if that fails 4750 can be seen as a next support level.
MACD and ROC both are indicating downside movement.
expecting bear market ahead!!!
Yesterday mkt was positive after a gap up opening at a downside.
today it closed negative with opening at yesterday closing level and closed below the low of yesterday.
Engulfing candlestick pattern is formed indicating a downfall tomorrow as well.
nxt support is at 4950(61.8% retracement) and if that fails 4750 can be seen as a next support level.
MACD and ROC both are indicating downside movement.
expecting bear market ahead!!!

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