Market Context - Bearish to sideways. Sell on Rise is the way to make profit.
What
a tremendous fall today. Whoa. Fall can continue as globally market sentiments
especially bank sector is negative.
Nifty50 –
In these kind of market,
PDL and PDH are best place to trade. Also the way Nifty has fallen breaking all
the support levels, no crucial support/resistance can be drawn.
Chart for reference-
BankNifty-
Same goes for BankNifty. Follow PDL and PDH. Any
big red candle in first 15 minutes of market opening will again create a
pressure on downside.
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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