Nifty Short intraday 5 May 2021

NSE:NIFTY   Nifty 50 Index
Nifty has dipped taking resistance at 14700 level.
5 and 13 EMA Negative croos over
Price did a fake BO of 50 EMA after retracing 50% of the short term negative trend.
if it breaks 14400 then 14250 / 14150 are good supports. ( Head and Shoulder Neck Line breakdown )
View : Short the bounce, if we get it...
Else if it crosses 14700, it will become bullish ( chances seem less though )
Happy Trading.

Note : it is seen that Indices are rangebound and Mid term trend is sideways.
Monthly options has a straddle at 14500 too confirming the sideways mid term view.
High Volatality expected.


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