View on Nifty 50

Nifty 50 is on a downtrend on daily as well as weekly and monthly timeframes. But if we look closely on the daily timeframe, we can see Nifty trading just above previous trend's Resistance line and hopefully we could seee it closing there only in this week. Therefrom we may see a change of trend, the beginning of recovery that it had been facing since few months now. Note - This is our personal opinion, positions based on this opinion aren't suggested.