Now here it will be a little confusing for many people 🤔 that is this recovery real that the market can go up again or not. 📉📈
See, if the market has to go up, according to me, the best case scenario is if the market goes above 23800, then only I will be a little more bullish in the market. 🚀 The reason being is such a small pullback that I will not look to buy heavily in longs.
No doubt a good bullish candle has been made in the market today 🔥, but there is also resistance here ⚡. In fact, when the momentum will come, you just think, when this double top kind of break will happen, then how good momentum will come in the market. 💥
So here maybe the market can spend a little more time or maybe it can go down more, you can say to give more pullback. ⏳ This can go to the whole region, ie. pullback can extend up to 23800. But it is not necessary that it comes in a day or two. ⏱️ You never know. But if the market spends time here, then it becomes a little easy for us because the market can try to break out from here. 🌟
And once 23800 breaks out, that is your best level to add longs. 📈 Then the trend of the market will also change to bullish, I am saying major trend. 🏹 So we will wait for the market.
For now, I am not trusting today's candle 🔥 because today was quarter end 📅, month end 📆, plus financial year end 🏦, so there will be a lot of buying in the market. So today's candle is not trustworthy according to me. ❌
So tomorrow or at least the next two trading sessions, because Monday is a holiday 🕌, because it is Eid. 🕋 So we will see the candles of the next two trading sessions, we will observe what is happening. After that, we will make a good view. 👀
For now, it is a cautious approach, both sides, long side ⬆️ short side ⬇️, start with a cautious approach, do not trade in heavy quantities ⚖️, until 23410 or 23800 does not break.
Word of caution ⚠️, whenever we get clarity on what the market will try to do, then only we will trade. We will let the move of 1-2 days go or trade in less quantity. Nothing is going to happen. Remember this. 📊✈️
See, if the market has to go up, according to me, the best case scenario is if the market goes above 23800, then only I will be a little more bullish in the market. 🚀 The reason being is such a small pullback that I will not look to buy heavily in longs.
No doubt a good bullish candle has been made in the market today 🔥, but there is also resistance here ⚡. In fact, when the momentum will come, you just think, when this double top kind of break will happen, then how good momentum will come in the market. 💥
So here maybe the market can spend a little more time or maybe it can go down more, you can say to give more pullback. ⏳ This can go to the whole region, ie. pullback can extend up to 23800. But it is not necessary that it comes in a day or two. ⏱️ You never know. But if the market spends time here, then it becomes a little easy for us because the market can try to break out from here. 🌟
And once 23800 breaks out, that is your best level to add longs. 📈 Then the trend of the market will also change to bullish, I am saying major trend. 🏹 So we will wait for the market.
For now, I am not trusting today's candle 🔥 because today was quarter end 📅, month end 📆, plus financial year end 🏦, so there will be a lot of buying in the market. So today's candle is not trustworthy according to me. ❌
So tomorrow or at least the next two trading sessions, because Monday is a holiday 🕌, because it is Eid. 🕋 So we will see the candles of the next two trading sessions, we will observe what is happening. After that, we will make a good view. 👀
For now, it is a cautious approach, both sides, long side ⬆️ short side ⬇️, start with a cautious approach, do not trade in heavy quantities ⚖️, until 23410 or 23800 does not break.
Word of caution ⚠️, whenever we get clarity on what the market will try to do, then only we will trade. We will let the move of 1-2 days go or trade in less quantity. Nothing is going to happen. Remember this. 📊✈️
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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.
Related publications
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.