Will it get worse or a bit better before it gets worse ??
You can notice that the thick blue line highlighted, is supporting Nifty for now.
Nifty should close below this line, for further fall.
Also, keep the black line as resistance for now.
Nifty will definitely be seeing 15900 pretty soon. But the question is
Will it get worse - as in Nifty opens gap down, and continues to fall further
or
Will it get better before getting worse - gap down or gap up on Monday, goes up, hits a resistance (16410 being the major resistance here) or the black line. Then a free fall towards 15900.
So either way, Nifty will go below Fridays close. All this will be invalidated, if Nifty closes above 16410 this Friday (i mean on a weekly time frame)
Trading range for now 16555 - 15900.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Nifty should close below this line, for further fall.
Also, keep the black line as resistance for now.
Nifty will definitely be seeing 15900 pretty soon. But the question is
Will it get worse - as in Nifty opens gap down, and continues to fall further
or
Will it get better before getting worse - gap down or gap up on Monday, goes up, hits a resistance (16410 being the major resistance here) or the black line. Then a free fall towards 15900.
So either way, Nifty will go below Fridays close. All this will be invalidated, if Nifty closes above 16410 this Friday (i mean on a weekly time frame)
Trading range for now 16555 - 15900.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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