Market Context - Bearish to sideways.
Markets
are getting affected by the drama happening globally. Looks like more downside
is possible easily and again market is in Bear grip.
Nifty50 –
17400-17350 will be a
support zone for tomorrow. Sentiments are negative hence we can see 17200 as
well. Let’s take the short trade only on PWH,PWL levels after seeing the price
action.
Chart for reference-
BankNifty-
It may open gap down and fall 200-300 points again.
40000-40050 is a good support range.
If market opens flat, we can plan for a short trade
after seeing the price action and our immediate target will be 40200.
Chart for Reference-
Abbreviations
used in Chart-
PDH – Previous day High
PDL – Previous day Low
PWH – Previous Week High
PWL – Previous Week Low
NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL
PURPOSE. TRADE WISELY.
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