Friday, May 10, 2019

Why Nifty collapsed and how to trade next week?

Nifty has shown a strong selloff in just 3 to 4 days of time.
The level of 11550 was very important which was the low of multiple cycle. When multiple cycle lows are broken in a rush it indicates that a very important top is formed probably for the year.
Yes, it is a bold statement but looks very probable. 23rd May will be an important day but I think it will be Modi government again this time without much hurdle. This might result into an upward spike but that will be only temporary.

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