Nifty 50 IndexUpdated Will the Real #Nifty would stand up - BASE 9685 - Deciding level
So as per the chart today the Bearish Flag might complete but for Nifty its a deciding day, a very important trading session as far as the investors are concerned. Yesterday Nifty surrendered to the Bearish Dominance and now the last support level for this is 9685 level.
If Nifty manage to breach 9685 level on closing basis then get ready for 9500 & 9300.
We will get that indication most probably by the end of today's session. Meanwhile play the expiry day today by hedging.
As far as, we traders are concerned, there's money to made no matter where the market head to.
We might see some short covering rally at the level mentioned.
Now two levels are of the utmost importance.
Resistance - 9781
Support - 9685
So keep an eye.
If Nifty manage to breach 9685 level on closing basis then get ready for 9500 & 9300.
We will get that indication most probably by the end of today's session. Meanwhile play the expiry day today by hedging.
As far as, we traders are concerned, there's money to made no matter where the market head to.
We might see some short covering rally at the level mentioned.
Now two levels are of the utmost importance.
Resistance - 9781
Support - 9685
So keep an eye.
Note
Forgot to draw the resistance line at 9781 on the chart. An important level.Note
Meanwhile OI of 9700 PUT rose over 2.94 million in the opening 90 minutes of today's session.Note
As expected and mentioned Nifty up move stopped at the 9781 resistance and found support right at the 9685 level.
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