28 May 2024 - Still Bullish on Nifty, 22781 laxman rekha

After we had a slightly red day, i am not changing my stance to bearish yet. I would prefer the 22781 critical support to be taken out before going short. I still believe N50 is catching its breath after the 1100+pts run from 16th May, but the moment we fall below 22871, we are going below the previous ATHs and that could prove quite tricky.
In the last 2 instances i.e. on 10th Apr, 3rd May we had noticeable corrections - so the base case to go bearish may be profitable.