NIFTY Price Action Analysis For Next Movement

On Daily Time Frame, There have few major highlights in NIFTY.
- NIFTY gives breakdown and currently trading below 200 EMA level.
- But currently trading near support level of parallel channel which is highlighted in chart.
- Further downside in nifty possible only after breakdown of this support level.
- Current trend of nifty is downtrend and this trend can change only if nifty give breakout of mentioned downtrend resistance.
- All other targets and levels mentioned in chart

Disclaimer:
Consider this post as an educational purpose only. Before taking any position consult with your financial adviser.