Nifty Analysis - Stance Neutral ➡️
Recap from yesterday “Interesting price action formed at the current levels. Seems like where we are right now is a crucial support/resistance zone that could decide the next trend. Our call of bearishness will continue until N50 can break through the channel top line.”
4mts chart link
Even without breaking the upper trend line, we had to change the stance from bearish to neutral today. The ball was in bear’s court today and they did not score. A small falling wedge pattern created a short squeeze that took N50 161pts ~ 0.75% higher. Credits to RELIANCE that contributed to ~ 40pts today. Momentum is everything in a trend, we will wait and watch how Nifty50 reacts to the expiry day tomorrow.
63mts chart link
The last candle which is strongly is GREEN is standing out. Looks like the 21491 support is respected for now. If we fall below that tomorrow, we will not hesitate to switch back the stance to bearish. What the dominant animal is tomorrow - bear or bull is totally dependent on the opening 15mts.
Recap from yesterday “Interesting price action formed at the current levels. Seems like where we are right now is a crucial support/resistance zone that could decide the next trend. Our call of bearishness will continue until N50 can break through the channel top line.”
4mts chart link
Even without breaking the upper trend line, we had to change the stance from bearish to neutral today. The ball was in bear’s court today and they did not score. A small falling wedge pattern created a short squeeze that took N50 161pts ~ 0.75% higher. Credits to RELIANCE that contributed to ~ 40pts today. Momentum is everything in a trend, we will wait and watch how Nifty50 reacts to the expiry day tomorrow.
63mts chart link
The last candle which is strongly is GREEN is standing out. Looks like the 21491 support is respected for now. If we fall below that tomorrow, we will not hesitate to switch back the stance to bearish. What the dominant animal is tomorrow - bear or bull is totally dependent on the opening 15mts.
@viswaram
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
@viswaram
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.