Nifty In Technical Charts: Declines Looming In The Near Term

Best to stay light and nimble, picking our fights carefully in trading, using guerrilla tactics.

<div class="paragraphs"><p>The National Stock Exchange Ltd. building in Mumbai (Photographer: BQ Prime)</p></div>
The National Stock Exchange Ltd. building in Mumbai (Photographer: BQ Prime)
After few sessions of bullishness, the main indices got slammed into the weekend. Bearish engulfing candle for the Nifty, dark cloud cover for the Bank Nifty, high waves for mid- and small-cap indices, the picture certainly doesn’t look too healthy. The wide gap-down on Friday is certainly a downer and will make the job of bulls very tough in the coming week. Chart 1 shows a bearish set-up on Bank Nifty.
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