Market Context - Sideways. Now market is at the stage where it can give a pullback and
then again come down. Bears will sell on every rise. So there will be some
tussle between bulls and bears at least this week which will make market more
of a sideways.
Nifty50 –
The zone between
17145-17185 can act as a resistance. We can plan to take a counter trade here
on downside. Scalping can be best for 2-3 days.
Below todays’s low which
is around 17000, we can again expect a good fall of 150-200 points.
Chart for reference-
BankNifty-
Sentiments are bad for banks already. Be cautious
before going long. Also any strong selling can come below PDL. 39600-39700 is a
zone which will act as a resistance if market opens gapup.
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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