There have been few queries to me if Nifty is getting into a downtrend and what the targets look like and also if I should sell my equity position.

Let me try to answer these questions here.

On daily chart, I see weakness. If today we are able to close without a recovery, Nifty would have broken the trend line. This will become a hurdle. Still this does not become downtrend even on daily. It is just that we will be stopping the long trend on daily. Remember, the day is not yet over and last bar is still forming.

On weekly charts, we are still in uptrend. No need to liquidate your equity positions. If at all, you may do our quarterly exercise as mentioned on this blog for portfolio analysis

 

If you are a trader, you need to wait before you get rather valuable feedback from me as I expect you to learn all the courses on this site before giving detailed analysis for trading.