Will Nifty fall towards 11300 odd levels
Aggiornato
Nifty
CMP 11525
In our previous post we highlighted how FIIs have turned bearish and what could be a possible scenario...
Quote from previous post... "The Bears were happy to book profits. But We need further confirmation. If this Short covering rally is not backed up by fresh buying then Bears will know that Bulls have been cornered. And that might tempt them to short again."
https://in.tradingview.com/chart/NIFTY/ln88uraX-Nifty-Futures-and-Options-data-analysis/
From charts picture gets clearer... Nifty is struggling to get past above 50 day EMA. In fact, it has turned negative exactly from 50 day EMA. In the given scenario, probability of Nifty falling up to 11300 odd levels has increased...
Take care & safe trading..!!!
CMP 11525
In our previous post we highlighted how FIIs have turned bearish and what could be a possible scenario...
Quote from previous post... "The Bears were happy to book profits. But We need further confirmation. If this Short covering rally is not backed up by fresh buying then Bears will know that Bulls have been cornered. And that might tempt them to short again."
https://in.tradingview.com/chart/NIFTY/ln88uraX-Nifty-Futures-and-Options-data-analysis/
From charts picture gets clearer... Nifty is struggling to get past above 50 day EMA. In fact, it has turned negative exactly from 50 day EMA. In the given scenario, probability of Nifty falling up to 11300 odd levels has increased...
Take care & safe trading..!!!
Nota
Nifty It has made a low of 11399
CMP 11418
Look to book partial profits
& Enjoy ur weekend...
Happy trading...!!!
Trade chiuso: obiettivo raggiunto
Nifty CMP 11347
- makes a low of 11301
- Target of 11300 achieved to perfection
Enjoy and happy trading...!!!
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