Nifty 50 seems to be heading for a downward trend after a month long jolting moves inside “BREAKDOWN ZONE” which I concluded in my last analysis “Nifty 50 Seems To Take A Pause Before A Jolting Swing”.
On analysis of the movement of Nifty 50 in different time zones, I conclude that the economic events during the Week of July 3rd, 2017 may enhance the probabilities of the beginning of a downward trend. I find the movement of Nifty 50, after its exit from this “Breakdown Zone” during the last few trading sessions of the Week of June 26th, 2017, indicates towards the forthcoming jolting downward moves during the Week of July 3rd, 2017. I find this downward voyage may be up to the levels of 8820.
Having a relook at the same daily chart frame on July 1st, 2017 seems to be evident enough for concluding a downward trend ahead amid growing volatility.
Have a Nice Trading Week.
