Nifty - Bearish or Not??

10 авг. 2021 г.

🔰Educational Purpose
Nifty💚
Date- 11-09-2021
On Daily chart again Doji, Continues in consolidation range.
Upper range shifted from 16330 to 16360
And lower range16180


🔰 Intraday View:-

♻️ Flat Opening(near closing)
-If opens flat then upper range Breakout which is 16360 is important
-Or if comes immediately down or forming O=H candle structure on 5min TF then you can buy Put with 16300 Strict SL
-As per Psychology todays afternoon sell off resumes if tomorrow morning new sellers start selling at Flat opening.
🔸what will happen if sell off resumes-
1- Todays Pull back(16200 to 16270) get sold in to
2- if any 5min candle closed below 16180 then get ready for LH-LL structure.
(Lower High = LH, Lower Low=LL)
3-Downside tgts 16130 16080

♻️ Gap up - above 16300
-If opens gap up and gives Breakout on 16360 level in 15min candle closing and sustains then it will blast upper side till
Tgt 16420 16460+
-If opens gap up and then comes down then use price action to take any trade

♻️ Gap down- (30+ points)
-If nifty opens below 16240 level, then might be possible again aggressive sell off which leads market in downside
SL is recent high which is 16300 around

Note-
-Put strict SL loss, too much volatility seen in last session.