Nifty today tested 19550 levels today as mentioned in previous post for swing targets.
Nifty went upside vertically without any retracement from 19300 levels, So this fall was expected.
Exited Monthly Expiry FUT today taken from 20000 levels with R:R 5:1.
Short covering is expected from these levels as SEP month targets are achieved for SEP FUT.
A sideways or mixed upside move is possible for tommorrow as everyone Exited PE side today, leading to short covering and buying. Can test 19804 tommorow but no big upside movement expected as sentiment is still bearish. sell on rise will be good from major resistance levels.
More selling can come in Oct month after retracement/resistance testing is done.
only for educational purposes.
