Nifty50 has been performing the way we analyzed. Sustaining below 200 ma show bearish pressure. Gap from Feb 1st BUDGET DAY has been filled and tested once but we can see some range trading tomorrow which can help NIFTY50 to test the support(gap) levels again making it a DOUBLE BOTTOM PATTERN & W PATTERN. Both patterns are trend reversal patterns. Trade safe tomorrow, as market might end up in range because of expiry and lot of Hedging positions.
13800 is exactly where we see institutional buyings. A great demand zone. Looking at bigger picture that’s on hourly chart, Nifty is taking a big support of the Gap that we had on BUDGET DAY. AT same there multiple reason for reversal - Fibonacci, Gap , demand zone and then expiry tomorrow. For this expiry we think it might rend up in range but for future analysis we believe if there some news that affects the market we can surely see NIFTY50 at 13,800.
We really respect your comment. We will work on it.
Trademint08
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We really regret if you had face lose, but trading is a business to be run more on Risk & Reward ratios. We might have hit our SL on one stock but there were 3 other that went the way be wanted.
follow_trend
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Where do you see it bottoming out before reversal? 13800?