In daily chart nifty making a double top & rounded top ,nifty found support at 4900-4850 & than rally if this level not hold than we see deeper correction up to 4800-4539.
In the weekly chart nifty making the double top & closing below the trend line .-ve divergence seen in MACD .
In the monthly chart clearly shows that nifty in range last 4 month 4539-5182 .Every month nifty touch the upper & lower range but in December nifty touch the upper range but not cross it ,now nifty turn to lower range 4539.
Over All
I am in bear camp short term & medium term trend turn down. sl-5067 for short & medium term sl 5182 ,short term t-4960-4920,medium term t- 4850-4539.
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