Price made a fresh all-time high on 10Apr24 at 22775. Price however has been dropping significantly since then, to a good support area. Most of the massive orders seem to be after-market orders resulting in huge gap downs. It seems like more buyers have already entered at the support zone on 16Apr24, resulting in a spinning top (both buyers and sellers are battling it out in this area). If we have a good bullish candle on 18Apr24, we can expect a good bullish rally continuation.
I'm watching the region between 22095 and 21881 for a healthy bullish recovery. If the price drops below this zone, will have to reevaluate the market conditions.
Note: All Ideas shared by me are strictly my view, intended only for discussions and educational purposes, and don't in any way indicate a buy or sell call. Markets are subject to risk, please consult with your SEBI-registered financial advisor before making investments/ trades.
Trade closed manually
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Detected a new channel in NIFTY. Watch following idea for updates