Nifty 50 IndexShort
Nifty seems Bearish today 3/5/21
Updated
Market May start with Gap Down around 14400s
Hence retracement for the gap down is possible
The Main Trend of todays market is Bearish
STRONG LEVELS FOR THE WEEK - 14860, 14716, 14557, 14444, 14258
Swing trade is possible between these levels in positional not intraday , Currently the close price is in 14631 once the market is started with gap down then we can wait for the bullish trend to start around 14350 so it will be a sell at 14444 and wait for the fall or if it starts with a bearish trend we can wait till it break the level 14258 and buy and once after the bearish trend if it breaks the level 14557 and we can expect bullish at that time.
Hope You understand our Swing trade Concept.
Hence retracement for the gap down is possible
The Main Trend of todays market is Bearish
STRONG LEVELS FOR THE WEEK - 14860, 14716, 14557, 14444, 14258
Swing trade is possible between these levels in positional not intraday , Currently the close price is in 14631 once the market is started with gap down then we can wait for the bullish trend to start around 14350 so it will be a sell at 14444 and wait for the fall or if it starts with a bearish trend we can wait till it break the level 14258 and buy and once after the bearish trend if it breaks the level 14557 and we can expect bullish at that time.
Hope You understand our Swing trade Concept.
Note
Reasons for bearish trend 1. Last week Nifty was up from 14510 to 15050 , Nifty will retrace this upward rally.
2.Corona cases are increasing and partial lockdowns are announced throughout India.
3.Flls have sold for 3500Cr.Rs/- on Friday.
Things to Notice when following the bearish trend
1.Volatility is consistent since March first week , and still expected to continue.
2.Kodak Bank release its GDR today
3.Dlls are expected to support the market at its lower levels.
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.