Hi guys, Today's expiry session was very much volatile but one would have managed this volatility if he would have known where are the major supports of trendline in short time frames. Although today the expiry happened on the major support of Trendline A & B. Both the trendline played as a major support in Nifty. However, If you zoom in it just expired exactly on the trendline. For the past weeks trendline C has also acted as a good resistance and you should keep this in mind once Nifty goes above 15000. If on the daily time frame, Nifty manages to close below the trendline A & B then we'll see more fall in Nifty to 14000 and below. Also I have a bearish view in Market as of now as the major bullish trendline is broken. It can go to retest that trendline and then again falls down. So, I am not holding any cash positions for short term, and I will only buy until & Unless trendline C is not broken.
It can go to retest that trendline and then again falls down ,,,, THE nifty level of retest is approx ??
Siddharth_23
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@light_kumar, Hi so the key levels to watch are; 14650-14730 (If this is crossed with good volume than the next level will be the resistance of trendline C between 14800 - 15200.
However, the 14650-14730 level is a very crucial resistance until and unless the market doesn't open gap-up above this level.
Will share the new chart by today evening
Siddharth_23
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@Siddharth_23, There is small change in the nearest key level, it is between 14650 to 14760. It can revolve around 14730 to 14790 we just have to see the price action there whether it will break this level or not.