Market Context - Market is very dicey as of now. Short covering is pending but Nifty is
unable to sustain on day highs and hence market is down.
Be cautious with short trades as it can be a trap
for intraday players.
Nifty50 –
For tomorrow, the levels
are marked on the chart. Mainly PDH and PDL will be important for the market to
give any clear direction. In between, it will just hunt the stoploss.
Chart for reference-
BankNifty-
Same goes with BankNifty as well, but the charts
are much better. 40600 is a resistance level above which we can see a good
short covering.
Any fresh shorts are recommended below PDL.
Chart for Reference-
Abbreviations
used in Charts-
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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