The Nifty index has failed to reach a new high by its August 27th deadline, signaling a potential shift in its underlying trend. This breakdown of the bullish time channel, which has been in place since January, suggests a change in the market’s momentum. “Currently, the character change is confined to time due to the bullish price setup, which still supports further upward movement. In near term.
On the downside, support lies at 24,700. Holding above this level, NIFTY could potentially rise to 25,250 on spot.
The next 24 hours are crucial for global markets, as NIFTY’s recent development could influence broader market sentiment.
NIFTY’s Bullish Time Channel at Risk
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