Nifty Analysis for 3rd Nov

Nov 2, 2021

NIFTY

⏺ 4/1 Hourly - 17850-17960 is the range. can go both ways if broken. Continuation of downtrend is most likely.
⏺ 15/5 min - we can see huge momentum on down side if the support of 17850 is broken.

✅ Support - 17850, 17800
❌ Resistance - 17960, 18090

📈 Trend? - 90% down 10% up
(what this basically means is that you should avoid treading against the trend *whatever it may be* as it will not give you much points)

↕ Market movement - 250-300 pt

❗❗ Watch out for :

--> At the opening, most likely market will be rangebound. As it is expiry, you can do scalping within 17850-17960 - but be sure to SL very very tight.
--> After a whole day of confusion, it is possible to see big move tomorrow. Probably of 250-300 pts.
--> Festival season does affect the trading. So just keep that in mind.
--> It's expiry; don't be on the zero side, be on the hero side.