A turnaround in the market following doji pattern formed yesterday. Market opened gap up by 70 & 200 points ( Nifty - Bank nifty). There was a tripple bottom at 15740 & it has been respected by the mkt today. Bnf formed a immediate support at 33000.
One more important thing happened today that today Market crossed the high of last three days and closed above previous high. Now for nifty's support shifted to 16000 as it has given nice close today. Upper side one hurdle is 16400.if mkt sustain above 16400, bull run expected. Huge short covering seen today. FIIs selling pressure continued as usual, which is a worrisome for us.
U S VIX drastically fell down, India VIX should go below 20 or more.
Trend Changer day it was...
Hooe, bull run beyond 16400 may lead to high lvl. Still if and but is there, but trending up side is more favorable.
This week will decide the perfect direction.
Signing off for the day... 💐