5694 The 200 day - weekly ema forms the support for reversal
Reason for short side
a) global geopolitical tensions and may continue until nifty touches the weekly 200 day ema for reversal. (14700 level crucial reversal pattern)
b) M formation in weekly time frame indicates the reversal pattern ( There is another possibility of formation triple top, in-order to remove weaker retail traders).
c)weekly harmonic pattern formation development in progress at reversal at 14700.
There is possibility of right to be wrong.
a) global geopolitical tensions and may continue until nifty touches the weekly 200 day ema for reversal. (14700 level crucial reversal pattern)
b) M formation in weekly time frame indicates the reversal pattern ( There is another possibility of formation triple top, in-order to remove weaker retail traders).
c)weekly harmonic pattern formation development in progress at reversal at 14700.
There is possibility of right to be wrong.
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