Never Buy in Anticipation of Market being Bottomed out Always trade with trend. I know its very difficult to control emotion and Temptation to buy at low levels thinking it as bottom but At last you end up losing Money…
Nifty Hourly is moving in the channel from High of 5740 with few whipsaws but larger trend was between the 2 parallel trendline as shown in above chart. 4900 Taken out than fall will accelerate with momentum and in matter of day we can see 4800 levels.
Its a Global Crash which is happening and people will run for Flight to safety Valuation will never matter at this stage when there is overall Panic.
Nifty Daily has been a Bearish from when the RBI raised the Interest Rate by 50 BPS and Nifty unable to close above 200 DMA.
I talked about 5110 level In my Weekly Nifty Analysis and today as soon as it got taken out we made a new low at 4932.
Break of 4900 will directly take us to 4779 Levels.
Nifty Fibo Levels
Watch Out for 4779 and 4705 Levels for Any BounceBack to occur.
Be with TREND and STAY DISCIPLINED