NIFTY 50 Key zone

NIFTY has been in a downtrend- To find trends in NIFTY index use Heikin-ashi candles because it eliminates the Gaps. So looking at nifty it has printed HH, LL, LH , LL, LH, LL and suddenly there was a change of character and it printed a HH. So its slightly bullish here. Then it also printed a LH, the trend reversal is confirm.

ENTRY OPPURTUNITIES:

LONG: If NIFTY break 17800 out of trendline there is a possible rally. I can confirm this with Elliot wave. the market is currently in corrective wave.

SHORT: There are rumors saying that there will interest rate hikes in India, In the event there is a chance of reversal.

DYOR.