Today Bears are trapped but it will be very Tricky market tomorrow....
If Market opens Gap up and touches 16670 there should be a profit booking expected as market is going for secon time only. So 16670 will act as a Resistance. If that breaks....then there will be Short covering and market will continue
to Go Upwards. If it Take Resistance then it will come to Previous day close. then There will be possibility of CE
If Market opens GAP DOWN then its a Bull-Trap....market will fall up to next support.
If market opens Flat wait for Price action then take a trade.
Never trade without Stop Loss
Thank you
If Market opens Gap up and touches 16670 there should be a profit booking expected as market is going for secon time only. So 16670 will act as a Resistance. If that breaks....then there will be Short covering and market will continue
to Go Upwards. If it Take Resistance then it will come to Previous day close. then There will be possibility of CE
If Market opens GAP DOWN then its a Bull-Trap....market will fall up to next support.
If market opens Flat wait for Price action then take a trade.
Never trade without Stop Loss
Thank you