Markets behaviour today was in total range-bound. We saw both buyers and sellers in action. Be cognizant that the last hour selling was quick and appears like a panic sell-off. Sticking to the same view as yesterday, markets are still bearish but also be ready for a sharp recovery.
On the higher time frame the pattern looks like a bear flag. Hence trade safe on the both sides.
Please refer to the important supports and resistances on the chart.
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On the higher time frame the pattern looks like a bear flag. Hence trade safe on the both sides.
Please refer to the important supports and resistances on the chart.
Thank you for taking time for going through my analysis. if you wish to not miss out on daily views and analysis, kindly click on the follow button by visiting my profile on the top left. This would not only encourage me to post quality content but also for you to have confidence in your trades. Also feel free to comment down below for any questions.
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 me and is solely for the purpose of knowledge.
Comment:
You may use the same support and resistance for 29th March
Comment:
Morning price action seemed like a short-covering rally. But we saw prices were struggling to move upwards and price fell drastically. This can be seen as a pure bull trap. Look for more sell on rise set up's with strict stop losses. Happy trading!
Comment:
Bank nifty looks bullish which could help nifty to sustain. If prices reaches day high in bank nifty exit all shorts.
Comment:
Nifty sustained and rallied as discussed. Monthly expiry has high volatility. Trade safe!