NIFTY
Nifty is clearly on a buy-on-dip format. The rally on Friday was unexpected by most of the market participants but the market is always supreme.
Important levels on Nifty are marked on the charts.
Few points to note
Technically RSI in 1hr 15min and 5min is in an overbought situation.
If there is a gap up open confirm the price action before entering into any Buys.
Usually, after a big move, it is more likely to be a consolidation day or profit booking can kick in.
Always try to enter the market into a long position on dips or scalpers can take advantage of the short side.
all the levels marked are on a 15min closing basis.
OI data shows bullish sentiment in the market and global markets are performing well on the upside.
if 15130 level is not respected (15min candle closes below this level) then 15050-15080 is a good buy on dip zone for the people who have missed the rally.
I will be watching the up trendlines as well
This is Purely my personal view on the market. Trade at your own knowledge and Risk to reward.