Averoy_Apoorv_Analysis

Nifty Analysis | The Make or break of the monthly consolidation

Short
NSE:NIFTY   Nifty 50 Index
What I see is the drying pressure of bears in 1hr as making Higher lows but at the same time we are getting resistance from the same 15k LVL, nifty is residing on the gapper support and resistance created some days back, Sgx nifty is showing -200 as of now meaning breaking our gapper support lvl + a gap down below the 1hr strong trend line = bears have won the race already.
Strategy: don't sell as the market opens tomorrow as many would book their overnight profits and this would create a mild short covering on a shorter time frame, what we can do now is sell on a good rise, if the risk is appreciable I will post it here only, for now, bear market awaits until we see a break of 15k lvl with a power candle and its retest and another higher low above 15k would only create a bull market for a positional basis.
Also short the weaker one ... nifty or bank nifty :)
Happy trading :)

TELEGRAM link ( More charts and alerts of all stocks ) - t.me/hashtaghammer
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.