Nifty in the last 2-3 sessions has lost 400 points which shows some bearish basis market but it will retrace before another fall.
In case of a gap up opening, there will be a sideways expiry for nifty. Otherwise, after a gap down, there will be a recovery or profit booking in positional/swing trades.
It trading below the 20 ema (daily) and may come to retest the moving average or previous support levels.
Major support levels :- 22095, 22000
Resistance levels :- 22210, 22270, 22430
Negative price action formation around the resistance/support level can be traded in intraday with strict SL.
Wait for the price action near the levels before entering the market.
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.