NIFTY medium-term view

The market structure already showing Lower Highs and Lower Lows on Daily and Weekly time frames.

Immediate support is at 16,800 levels on Daily and weekly time frames. Once this level is taken out, there could be a long bearish market for a year or so.

Not expecting any Market crash. Feels like the bearish momentum will slowly add up and lastly explode(when all Hope is Lost)

Monthly support is seen around 12500 levels (Buying Zone with highest Potential).

Is there any event coming up in mid of 2024??? Keep guessing!!