Nifty - Bearish or Not??

NSE:NIFTY   Nifty 50 Index
🔰Educational Purpose
Date- 11-09-2021
On Daily chart again Doji, Continues in consolidation range.
Upper range shifted from 16330 to 16360
And lower range16180

🔰 Intraday View:-

♻️ Flat Opening(near closing)
-If opens flat then upper range Breakout which is 16360 is important
-Or if comes immediately down or forming O=H candle structure on 5min TF then you can buy Put with 16300 Strict SL
-As per Psychology todays afternoon sell off resumes if tomorrow morning new sellers start selling at Flat opening.
🔸what will happen if sell off resumes-
1- Todays Pull back(16200 to 16270) get sold in to
2- if any 5min candle closed below 16180 then get ready for LH-LL structure.
(Lower High = LH, Lower Low=LL)
3-Downside tgts 16130 16080

♻️ Gap up - above 16300
-If opens gap up and gives Breakout on 16360 level in 15min candle closing and sustains then it will blast upper side till
Tgt 16420 16460+
-If opens gap up and then comes down then use price action to take any trade

♻️ Gap down- (30+ points)
-If nifty opens below 16240 level, then might be possible again aggressive sell off which leads market in downside
SL is recent high which is 16300 around

-Put strict SL loss, too much volatility seen in last session.


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.