it has run like anything...without any retracement
and in the end strong selling pressure was there.
a healthy pullback is needed atleast till 35300-35400
if it wants to sustain above 35500
+++its moving in a upward channel..so downward movement is needed to complete the channel
it may once again come down to retest yesterdays low point.
if it comes and forms any reversal pattern then we can see a upper move as it
forms double bottom pattern...
its all just my point of view.....trade carefully
when we consider the previous trend there is no strong pullback..
look for shorting opportunity below 35250 level.
35077 will be a healthy pullback lvl.
even though closed in red, it's forming HH&HL in daily chart.
15800 lies on fibo 50% level +based on price action it's good pull back lvl when we consider previous trend.
all these are favoring in upward but if we see options data
it has strong resistance at 15.9K and 16K.
and negative performance by global markets due to increase in delta variant cases the...
more chances are there for breakout ,even it's forming flag and pole pattern on hourly chart....
may go down till 35000 and then bounce back from that level....
option data also showing strong support at 35k
