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#NIFTY50 1H Chart Analysis {16-04-24}

✦ Price Spooked on War and Consumer inflation Data.

◉Trend: Bull channel

◉Swing: DownSwing

◉PCR: 0.64( )

◉Momentum Bais: High Bearish Momentum.

📊TECHNICAL ANALYSIS📊

❖Structure: After Breakdown Of rising wedge pattern price started a bear swing with much aggressiveness.

▼Bear View: Short on Rise cause overall structure shows Bear swing to reach towards next support zones 22120, 21930.

▲Bull View: The resistance is very unlikely to hit but 22370 is the major zone as of now.

🌐GIFTNIFTY:- 180 points negative.

🌐DJI- 0.65% ,NDX & other global also cracked more than 1.5%.

Slightly Bearish :- After gap Down opening Watch for price action & try to sell on peak points like near EMA resistance.

☑️Mark these levels on chart and study it to get better understanding.