Market status continues to be Bearish. At the top trend line “TT”, NIFTY resisted many times, as indicated last week forming a congestion region. Now the congestion region has completed 15 trading days and hence, looks to be matured to take a “direction”. As per the price action till date, extreme bearishness is indicated for the coming weeks. If nifty Close below the Bottom trend line shown (BT), then, we might see major stocks too tumbling.
On the other hand, if NIFTY close above 5950, we might see it flying above the life time high, in the coming weeks.
