Just Before US Tariff Announcement, Indian Markets have broken the Trend Line started in September 2024 from down side and on the path to recovery.
After the Tariff Announcement, Japan, EU and US markets have bled and Indian market was not an exception.
Under Normal conditions, NIFTY is expected to reverse the correction and move upwards from 0.618/0.5 Fibonacci Levels. But NIFTY has broken these levels and closed below 0.5/50% level i.e. 22917.
This close 22904 is even below 20 DMA.
Coming week the Tariffs and Counter Tariffs are going to come into effect. So this down trend is expected to continue.
So immediate levels on down side for a possible Support are 22414 & 21964 (Previous Swing Low).
Brace Yourself For a Bumpy Ride!!
After the Tariff Announcement, Japan, EU and US markets have bled and Indian market was not an exception.
Under Normal conditions, NIFTY is expected to reverse the correction and move upwards from 0.618/0.5 Fibonacci Levels. But NIFTY has broken these levels and closed below 0.5/50% level i.e. 22917.
This close 22904 is even below 20 DMA.
Coming week the Tariffs and Counter Tariffs are going to come into effect. So this down trend is expected to continue.
So immediate levels on down side for a possible Support are 22414 & 21964 (Previous Swing Low).
Brace Yourself For a Bumpy Ride!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.