Nifty may form a spinning top tomorrow
Nifty's Option chain is showing Strong Support at 11800 and Strong Resistance at 11900 levels.
It has also formed a candlestick pattern similar to Hanging Man which shows Bearish Trend
Other Indicators are also giving bearish signals but since its a situation like Blockade its will take time for bulls to change there sentiment
So most probably a spinning top would be formed and after that, if Nifty breaks 11900 Resistance level it may charge towards 11950 and if 11800 Support is broken then it may continue the fall.
It has also formed a candlestick pattern similar to Hanging Man which shows Bearish Trend
Other Indicators are also giving bearish signals but since its a situation like Blockade its will take time for bulls to change there sentiment
So most probably a spinning top would be formed and after that, if Nifty breaks 11900 Resistance level it may charge towards 11950 and if 11800 Support is broken then it may continue the fall.
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Disclaimer
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.