Observations:
After trending upwards in NIFTY yesterday, today witnessed sellers opposes the price moving upwards,
They are now poised to reach untested supply zones at 17700-17680 levels.
However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards.
It is recommended to remain on the buy side within the range of 17700-17680, as no significant retracement has been observed after breaking the supply zone at 17680 level.
If this level acts as support, monthly expiry is expected to be bullish.
After trending upwards in NIFTY yesterday, today witnessed sellers opposes the price moving upwards,
They are now poised to reach untested supply zones at 17700-17680 levels.
However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards.
It is recommended to remain on the buy side within the range of 17700-17680, as no significant retracement has been observed after breaking the supply zone at 17680 level.
If this level acts as support, monthly expiry is expected to be bullish.
Nota
Price exactly reversed from the given levels, now its time to wait it will break or reversal again.
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.