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Nifty technical view today 07 August 2019

Nifty View Share Market Malayalam

Nifty View Share Market Malayalam



Nifty failed to make a higher high in hourly chart which was crucial for a trend reversal. It filled morning gap and fell. So for short term trend is still bearish unless it makes a higher high and close above trenline. Expanding wedge or broadening wedge like pattern can be seen. If formed after a down trend ( Descending Broadening Wedge), it mostly breaks on upside. Lets wait till it breaks n either side. Till then trend is still bearish. 

Its just my view and I could be wrong.

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Disclaimer: Author is not a sebi registered analyst. Views are shared based on market research and study and personal in nature. Others can take the different view and opinions. Please study thoroughly before enter or exit the trade.

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