NateshBhat

A bearish scenario on NIFTY

Short
NSE:NIFTY   Nifty 50 Index
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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