Bank Nifty - 16 June 2023 - Closing Analysis & Important Levels
What a comeback by put writer's. Even i lost money as i was expecting a downward move after the 1st pullback at 43700. Put writer's covered the entire fall of 600 points in 24hrs. Quite interesting and one of those 40% probability things for which we should be ready each day.
Market was very straight, 2 pullbacks and tested the level of 44080 from where it fell yday.
I expected a major trend reversal like pattern (Double bottom, Higher Low) before such major recovery, but i was wrong today.
From this level market has higher probability to move upwards as indicated in case-1.
Or, it can make a doubletop @ 44050 and move downwards as indicated incase-2.
Enjoy your weekend !!
Market was very straight, 2 pullbacks and tested the level of 44080 from where it fell yday.
I expected a major trend reversal like pattern (Double bottom, Higher Low) before such major recovery, but i was wrong today.
From this level market has higher probability to move upwards as indicated in case-1.
Or, it can make a doubletop @ 44050 and move downwards as indicated incase-2.
Enjoy your weekend !!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.