The trend remains positive but it's just a notch away from breaking the trendline. 14745 is a crutial support if Nifty 50 decides to correct itself.
The candle has closed below 20 and it needs to fight its way back up and above these levels.
here has taken support at the 50 levels and has tried to make a reversal. Let's hope that we see a strong bounce back today because Nifty 50 is very close to going into a correction mode which may be a big one this time.
shows some big selling happening as well and is flying dangerous close to the border. If it slips we enter the zone as well.
*We are hanging on the edge and I will stay away for today.
Hourly Chart (Medium to Short Term)
This chart signals that Nifty 50 is range bound between 14750 and 15250 levels. A strong breakout and really surprise.
has taken the first step towards entering the bull zone. We will wait and watch to see if it follows up on the new bull zone.
worries me as it has resisted the 50 levels and a reversal was made towards the downside.
15m Charts (Intraday)
The opening may be weak as the charts show us a strong downtrend but we will have to wait for the charts to make new candles inorder to understand the Intraday trend.
too shows us a downtrend and we need to see a very strong reversal for a breakout to happen here.
has just crossed the border here and is about to enter the zone. This can change if we see a strong bounceback.
The entire trade will depend on the momentum that Nifty 50 might show. Also, this is a weekly expiry so we may see a very strong bounceback that we need to see.
It is better not to earn rather than making a loss so my call is No Trade for now!