IDX:NIFTY 50 - 1314284
NIFTY VIEW AS ON 15 SEP 2020 ( INSIDE CANDLE WHATS NEXT? )

As we have seen that NIFTY was slightly starting to move upwards however has been failing to sustain its intraday high. Yesterday we had a bearish candle which has completely engulfed the small candle formed on Friday last week. This surely depicts that we started this week on bit of bearish side. Today we have an inside candle. Normally such behaviour means that we are about to see a breakout on either side of the big candle. Hence we still stick to the fact that NIFTY has some downmove pending. After a strong bearish chart we will see High of Monday as a resistance for this week and its low to be a support. Our view is neutral to bearish. Important support zones to watch out for as below :

LEVEL ZONE A is 11115 (Due to NIFTY being in range but unable to sustain above this level it is now coming out as a strong support zone as it is not broken with a velocity)

LEVEL ZONE B is 10810-10910 (This is our final correction zone where on breaking below 11100 and sustained we may see it coming)

Overall Conclusion : There is no such major change in the view and we expect NIFTY to go down once around the LEVEL ZONE A at least to get a pull back. Yes we see Nifty closing in green but the move if we check on a 5 min chart is not yet sustainable. This usually happens when NIFTY gets into time wise correction the velocity of breakdown is very low and mostly stay in a wider range. If we happen to see some bullish changes in coming days the view will be updated. So stay tuned !!

Ensure to watch out for STOCK RECOMMENDATION section for two new stocks waiting for BUY TRIGGER !!!! (One of them has triggered JAICORP LTD).