Nifty crashed and bulls trapped "When GREED happens you FEAR" .
Nifty was bound to give correction since many days.
But people were very much bullish and that's what brought GREED in the market.
And when GREED happens in the market then it goes for big correction. Nothing surprising.
Warner buffet says "When GREED happens you FEAR".
After my last update Nifty broke the consolidation box upwards and gave a 200 points rally till 13777.
And today it came back in the same box and gave a breakdown.
But there is twist here. Currently it took support at 200 moving average as shown in the chart.
If Nifty closes below support line in 1 hr timeframe then it will try to take support at 13000.
If Nifty closes below 13000 tomm then more downward is possible.
My advice would be to watch the market and let it work around the above levels, then we will decide.
Do not jump into any conclusions as of now. Just wait and watch as of now.
Stay safe & Happy Trade.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
But people were very much bullish and that's what brought GREED in the market.
And when GREED happens in the market then it goes for big correction. Nothing surprising.
Warner buffet says "When GREED happens you FEAR".
After my last update Nifty broke the consolidation box upwards and gave a 200 points rally till 13777.
And today it came back in the same box and gave a breakdown.
But there is twist here. Currently it took support at 200 moving average as shown in the chart.
If Nifty closes below support line in 1 hr timeframe then it will try to take support at 13000.
If Nifty closes below 13000 tomm then more downward is possible.
My advice would be to watch the market and let it work around the above levels, then we will decide.
Do not jump into any conclusions as of now. Just wait and watch as of now.
Stay safe & Happy Trade.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
Trade closed: target reached
Nifty is not bullish till it closes above 13500.
Hence do take confirmation before placing your bet.