As we can see NIFTY showed short covering as analysed In our previous turn that it could show some recovery because it is around the trendline support. Despite the recovery, we can still see NIFTY sustaining below the trendline support, making it weak technically. Hence as long as we are below the trendline resistance, every rise can be shorted till it finally closes above the trendline. So plan your trades accordingly and keep watching everyone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.