What a volatile day it was...!
Opened with gap up and closed in red.. And more important thing is huge fluctuation during the sessions... Really horrible 🥵.. Yesterday's behaviour of the market was indicating the bullishness, actually opened up, sustained up for about one hour & then it become crazy till end. One candle was forming of 100 points and was difficult to trade in such a market. It was hunting stoploss many times for both bull & bear.... Tripple bottom formed at 15735, & 16400 is a strong Resistance for now. I have clearly mentioned yesterday that, bull may have upper hand only above 16400 mark. Today it worked perfectly.. Mkt closed near low lvl. Tommorow being expiry, much more volatility can be seen.
Trend has not been changed so far. Inflation is a big issue to be taken care of. RBI definitely hike the interest rate soon to curb inflation for sure.
High Cautiousness alerted. Today
FIIs selling was very low in the may series... But they were Net sellers.
Surpringly nifty future was in discount than spot for all series... Quite astonishing.. Despite people were shorting future...
Signing off for the day with a better hope for tommorow 💐