Australian small cap index AXSO - at the confluence of 2 long term trendlines

 The chart below is self explanatory. Unless the index decisively breaks above this zone, there is a major risk of trend reversal.

NSE Nifty long term channel

 The   previous post on NSE Nifty was published on  13/07/2020 (link here). The view then was to be careful in market. A correction happened subsequently which turned out to be shallow and the uptrend resumed. 

 Now, as can be seen from the chart below, the index after trying to cross above long term channel is back within the channel. This calls for extreme caution w.r.t long positions in the market.