A bearish scenario on NIFTY
Since everyone are bullish on NIFTY and are looking at sgx and having mood swings I decided to take a rain check and see what if things turn bearish from tomorrow to expiry. Truth is bears have made intra day attacks more than the bulls for a week now and the stocks have gotten bearish. What if we turn bearish!?
Since the rise from that lows of about 16165 we went up 530 points to 16700 in a relentless rally of not even a single red hourly and then down to 16376 that is about 0.618 fibo in just 1 sessions and overnight where Nifty however took support and went rebound 130 points to fall back again not entirely and consolidated. So a bearish scenario cannot be ruled out or should not be ruled out imo.
What is we open tomorrow at last week swing highs of expiry of about 15570-580 (as our dear sgx is suggesting) and go down on monday filling the gap all the way down in the couple of sessions?
Since the rise from that lows of about 16165 we went up 530 points to 16700 in a relentless rally of not even a single red hourly and then down to 16376 that is about 0.618 fibo in just 1 sessions and overnight where Nifty however took support and went rebound 130 points to fall back again not entirely and consolidated. So a bearish scenario cannot be ruled out or should not be ruled out imo.
What is we open tomorrow at last week swing highs of expiry of about 15570-580 (as our dear sgx is suggesting) and go down on monday filling the gap all the way down in the couple of sessions?
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