#NIFTY50 is already retraced 50% from previous highs. On the weekly charts it looks like a retest of the breakout in the past 3 weeks. Whether it was a breakout or a fakeout and trapped buyers at high prices today's closing will decide. Stay tuned for updates!!
Since the market opened a huge gap down today there wasn't much that could be done. Expecting a little upside tomorrow may be a pullback. These are intraday levels to help you define imp support and resistance.
#NIFTYBANK long positions possible only above the yellow zone marked. Trend line break to the down side is possible but there are ample supports. Scalping would the best strategy since it's expiry. Do not hold trades it would be volatile.
Upvote
Comment
Share
Add a comment
FrontPage is India's favorite stock discussions community
Join 2,00,000 Indian traders and discuss trades, strategies, news & views on any stock.