So as we studied yesterday "the Intraday trend was up" and that reflected today.
However, must note that this move came as a short covering before the expiry. Also, we did not close above 25600 yet.
My view of a sharp pull back is still intact.
The technicals are also not confirming the momentum. We need to cross 25600 and that too on a sharp move.
Buyers outnumbered sellers with 14.5 million volume but also felt pressure from upwards. Looks like Smart Money is booking profit on every bounce.
Intraday Levels for Nifty:
Support 25477
Resistance 25600
Same happened in #BankNifty. I don't believe the move of today unless this help us achieve new high on the index.
BankNifty levels:
Support 57117
Resistance 57534
Won't be opening any new positions. Will use the bounce for profit-booking. Like Institional players.
That will be all for the day. Take care. Avoid MTF.
However, must note that this move came as a short covering before the expiry. Also, we did not close above 25600 yet.
My view of a sharp pull back is still intact.
The technicals are also not confirming the momentum. We need to cross 25600 and that too on a sharp move.
Buyers outnumbered sellers with 14.5 million volume but also felt pressure from upwards. Looks like Smart Money is booking profit on every bounce.
Intraday Levels for Nifty:
Support 25477
Resistance 25600
Same happened in #BankNifty. I don't believe the move of today unless this help us achieve new high on the index.
BankNifty levels:
Support 57117
Resistance 57534
Won't be opening any new positions. Will use the bounce for profit-booking. Like Institional players.
That will be all for the day. Take care. Avoid MTF.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.