Nifty long term trendline has been breached. There is a possibility that this was a fake breakdown and it moves back inside the channel. But I think magnitude of the sell down has been too much. Even if it goes back inside the channel it may not be able to sustain. It has likely turned into a bear market. Every touch of the MA should provide an opportunity to short.
Disclaimer: Just my viewpoint. Not a recommendation to buy or sell.
Disclaimer: Just my viewpoint. Not a recommendation to buy or sell.