venkatfx

Nifty is near resistance area - 22390 - 22400

Short
NSE:NIFTY   Nifty 50 Index
Nifty is near resistance area - 22390 - 22400 for 2 reasons, In charts its at reversal fib level of 0.618 and in derivatives data showing more call writers in Nifty and BN Index and in most of the BN - bank derivatives. I am not sure how index is going to fall in next 2 to 3 days remaining in this April contract. Either fall will be steep and faster or else break out will be with big green bars and bear gang including me has to book some losses in case of further strong upmove.
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.