Updated: Apr 3
We in our prediction/blog dated November 9, 2021 (https://www.dvsafeacestrategies.com/post/technical-short-term-positional-view-for-nifty-50-dv-safe-ace-strategies) indicated a bearish view for Nifty50 index at 18,095 along with the downside target of 17,350.
We extended our downside targets for the index Nifty50 to 16,799 in our next blog dated November 10, 2021 (https://www.dvsafeacestrategies.com/post/bears-to-come-back-hunting-on-d-street-dv-safe-ace-strategies). Targets for both the analytical blogs were successfully achieved as the index slumped over 7% within a period of one month.
After this slump, where is the index planning to head in upcoming weeks? Here is what the technical chart of Nifty50 hinting at: