i just chalked out an idea of how nifty is moving in a channel
I have also extended the trend line to forecast the gap up that can happen today.
let me see, whether my prediction works or not
It is clear from the chart that we are now in a partial bearish market
R1 - Heavy resistance at 17900 levels
S1 - Temporary support at 16000 levels. If this breaks, the next support is 14200 levels
S2 - Global support level at 14200 levels, which may take a few more days to arrive at. I predict, if bear market continues, it will bottom out at 14200
