PortfolioBuddy

NIFTY50 Intraday Drop and Rise - My Take on that

NSE:NIFTY   Nifty 50 Index
My Take on what happened in #NIFTY Index Yesterday and Today

A classic play with Gapdown , Cover - Sell at Rise and the support

On 17th It was a Gap down opening , following by an attempt to cover which was then taken down by bears to a safe near term support point

On 18th the opening Gap Up was attacked by a Selling Pressure and then even the short term immediate was breached , it went to the next support
The second reason for the cover was the the candles were for a short term below DMA 20 on daily charts , which probably triggered buying

Please let me know your comments , feedback and corrections if any in my understanding