Attached herewith two charts. NIFTY daily and NIFTY monthly…
On the daily chart you can see that, the near Broadening Formation has just started its southward journey. A breakdown below 5400 will be quite bad.
In the monthly chart, 10 Months old, and near matured pattern can be seen. A breakdown below 5000 could take NIFTY to sub 4000 levels.
We have to see how it goes in the next few days.
Others: DOW, EURO, Crude Oil… are heavily in Bearish mood.
