Nifty View for 02-08-2024
We have clearly discussed yesterday in the third scenario (what if Nifty opened in gapup). i discussed some points. and exactly happened what i anticipated. i said that the resistance, we are seeing will become support. As we expected it supported Nifty multiple times. Bears tried hard to push Nifty below 25000. but they failed.
now my view for tomorrow is very simple. tomorrow is friday. usually fridays are tend to be trending. i am expecting a nice trending day tomorrow. but we have resistance on the upside (25065-25075). support in the downside (24970-24980). either one to be broken to see a trending day. the trending day should be either bullish or bearish. if market opened flat and formed a bullish candle in 5min, we will see a bullish trending day.
24970 - 25075 is the zone of rangebound.
Nifty will be bullish if 25075 broken from downside.
Nifty will be Bearish if 24970 broken from upside.
All my views i am sharing here are for Educational purpose only. not a trade recommendation.
"ACCEPTING STOPLOSS IS THE SMARTNESS"
Happy Trading. Thank you.
now my view for tomorrow is very simple. tomorrow is friday. usually fridays are tend to be trending. i am expecting a nice trending day tomorrow. but we have resistance on the upside (25065-25075). support in the downside (24970-24980). either one to be broken to see a trending day. the trending day should be either bullish or bearish. if market opened flat and formed a bullish candle in 5min, we will see a bullish trending day.
24970 - 25075 is the zone of rangebound.
Nifty will be bullish if 25075 broken from downside.
Nifty will be Bearish if 24970 broken from upside.
All my views i am sharing here are for Educational purpose only. not a trade recommendation.
"ACCEPTING STOPLOSS IS THE SMARTNESS"
Happy Trading. Thank you.
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