I have also detailed some dangers for the Nifty50 on a Weekly chart on 27 August 2023 already. Here on the Daily chart, as also on the Weekly, we see a Bearish Divergence between price and technical indicators. After today's close, it looks as if the price is starting to fall out of what currently looks like a Bearish Flag. Shorter term than the Weekly, but it seems to tell the same story and the action on the Daily could lead to more action on the Weekly chart.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.