Recap- Today market opened gap up and well above the zone marked for intraday. After a slight pullback it gave a decent rally. Nifty was better in all three indices for taking trade as it gave a best entry near 19300 and then hit all the targets for the day. After a brief rally, market consolidated in second half of the day. Market Context for Tomorrow – If we see positionally, market is consolidating and no trend change as of now. Today’s upside move was more of a retracement. The zone given worked pretty well today and it was clear that when we need to be bullish and when bearish on intraday basis. For tomorrow also, we need to be prepared with our levels for trading on either sides as market is consolidating hence we can get trades on both sides. Nifty50 – For tomorrow, 19350-19360 is a good zone for trading. If market opens gap up and sustain above PDH atleast for thirty minutes, then we can plan for some bullish trades. Targets will be upto 19500.
This content is only for educational purpose.