NateshBhat

A bearish scenario on NIFTY

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NSE:NIFTY   Nifty 50 Index
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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?

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i have the same view on nifty 50 for monday that if it opens with a gap up, it won't be sustainable and it will just fill the gap and rest of day will be rangebound
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NateshBhat newbieintrading
@newbieintrading, if it does not sustain upside 16550-600 eventually 16200 again might be a possibility if that happens next question would be when, and tomorrow being one of the dates for time cycle change it may turn into a trending move sooner than we expect it to be.
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@NateshBhat don’t forget the OI at 16400 and 16500. What is scary is that client OI is the highest. Smart money waits for opportunities like this
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It is not that Im bearish it is just that what would be an expectation if at all it turns bearish.
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