#Nifty || 10th June 2022 || Falcon Trader || Daily Analysis

Market moved in the direction of analysis, we were able to book profit initially and then moved up using trigger line method.

Now looking at the market it seems that selling pressure will come, but today there was good buying from 16250 levels which had previous daily trendline support levels as well.

Same charts were shared on previous day analysis and even during live market where we were looking for opportunity to sell / short but trigger line method saved us and we continued holding long position till EOD and then booked massive profits.

For 16th June 2022 expiry - I am still looking at short side and will short heavily whenever I get opportunity on 1H time frame.

Comment:

Comment:

NIFTY50 will open gap down, as shown in the chart above.
And we should move towards our targets of 16200 and next week selling pressure will continue.

The market is bearish, there is hardly any strength. Inflation is a real problem, stop listening to people who are saying market will go up. It will but first it needs to make a bottom.

One way to find a bottom is to go to daily chart and see what is happening to RSI, CCI and so on.

Important Note: Short the hell out!