Friday’s candle was a shakeout, and today that shakeout got completely absorbed.
This is the same combination we caught on October 8-9.
But note this — the recent five candles have continuously been signaling profit-booking levels, meaning the index could give a dip anytime.
Also, the October 9 candle had a clear pivot low, which today’s candle doesn’t have — that’s worth noticing.
However, the short-term undertone still remains bullish. Institutions are buying every dip, and that’s why we aren’t seeing any sharp pullback.
Today, buyers’ volume in #Nifty was higher by nearly 50 million compared to sellers, which should reflect tomorrow.
The PP is tight, which means the upcoming move will be sharp.
Which direction? That will depend on which level breaks first.
For tomorrow, resistance will be 26135 and support will be 25900.
Now, if we talk about market breadth — the ratio stands at 1.08, which clearly shows that buildup has started in the broader market.
That means the stocks in your portfolio should start moving now.
If they’re still not performing, it’s time to replace the inactive ones.
Dump the laggards and ride the trend.
On the sectoral front, the strongest momentum is visible in Auto Parts and Finance.
Overall, the market looks positive for tomorrow, but risk management remains equally important.
---
Levels at a glance:📊
Pivot: Tight (sharp move expected)
Support: 25900
Resistance: 26135
Market Breadth Ratio: 1.08 (broader buildup visible)
Bias: Short-term bullish, institutions buying dips
Sectors to watch: Auto Parts, Finance
Strategy: Replace inactive stocks and ride the trend
That’s all for today. Take care and have a profitable tomorrow.
This is the same combination we caught on October 8-9.
But note this — the recent five candles have continuously been signaling profit-booking levels, meaning the index could give a dip anytime.
Also, the October 9 candle had a clear pivot low, which today’s candle doesn’t have — that’s worth noticing.
However, the short-term undertone still remains bullish. Institutions are buying every dip, and that’s why we aren’t seeing any sharp pullback.
Today, buyers’ volume in #Nifty was higher by nearly 50 million compared to sellers, which should reflect tomorrow.
The PP is tight, which means the upcoming move will be sharp.
Which direction? That will depend on which level breaks first.
For tomorrow, resistance will be 26135 and support will be 25900.
Now, if we talk about market breadth — the ratio stands at 1.08, which clearly shows that buildup has started in the broader market.
That means the stocks in your portfolio should start moving now.
If they’re still not performing, it’s time to replace the inactive ones.
Dump the laggards and ride the trend.
On the sectoral front, the strongest momentum is visible in Auto Parts and Finance.
Overall, the market looks positive for tomorrow, but risk management remains equally important.
---
Levels at a glance:📊
Pivot: Tight (sharp move expected)
Support: 25900
Resistance: 26135
Market Breadth Ratio: 1.08 (broader buildup visible)
Bias: Short-term bullish, institutions buying dips
Sectors to watch: Auto Parts, Finance
Strategy: Replace inactive stocks and ride the trend
That’s all for today. Take care and have a profitable tomorrow.
TrendX INC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TrendX INC
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.