“Risk On US Stocks jumped after Trump announced a trade deal with the U.K. just days before the U.S. is expected to begin negotiations with China.
Nifty 24273.80
Nifty formed a triangle pattern on the hourly chart and closed below it at 3.30, but the adjusted closing led to a higher close. Additionally, the Nifty has closed decisively below the 40HEMA hinting towards weakness in the short term.
Nifty sustaining below 24198 can drag it lower to 23847 in the short term. On the way up, the hourly swing high of 24447 will be an important resistance level in the near term. The reversal level can be trailed to the recent hourly high of 24447.”
