End of the Day Analysis: Nifty๐Ÿ‘€๐Ÿ“‰๐Ÿ“ˆ
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1. After Gap Up Opening of around 80 points, It got rejection from level around17200 & selling was seen till 11AM took support at 16940.Previous Day Low was also got breaked but could not sustain below that , hence it is a fakeout.๐Ÿ“‰
2. After 11 AM , only consolidation movement is there in nifty , which is not good for option buyers.
3. At 14:20 , selling pressure has been seen again & it broke previous swing low 17020 which got support 16980.
4.After 03:00PM , it again went up til 17040 with buying pressure as US market futures are trading positive & finally closed at 17007.
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Trade Summary:-
After Opening, Put/PE trade can be taken after breaking of 1st 5 min candle low ,i.e., 17060& Trail SL till 16940.
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Price Action Analysisโค๏ธ
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Hope you all have enjoyed
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All About Indices - chart - 13095494