Nifty

Hello & welcome to this analysis

The index which attempted a bounce on Tuesday failed to breach above 23250, today it is again witnessing selling pressure.

A bullish Harmonic Alt Shark could pause/stop this decline near 22675 which is the lower trendline of a falling channel apart from it being the monthly Ichimoku support area.

Further decline could take it to 22400 where it has a Bullish Harmonic Gartley.

Short covering as of now is appears to be only above 23175

The risk reward going forward still remains in favour of short side trades