May 20, 2021

NIFTY EOD charts

- nifty closed 0.8% in negative at 14906
- AD was flat

- so nifty could not sustain above 15000
- tomorrow is Friday so we will see if a weekly close happens above 15000 or not

- if markets continue down, then this would set up base for rising wedge
- in this case, break of lower trendline can lead to a bigger correction

- Incidentally there was a buy signal on kplswing indicator
- this has failed today

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