As you can see NIFTY took support at the trend line shown, 5 times. The sixth time, it extended beyond, but took support (A) and failed to reach the trend line just above it. It is now testing the point “B”. It is unlikely to tae support this time. If that happens, we can see another 10-15% drop. That is to the trend line marked by red arrow.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
