NIFTY IN A TRADING RANGE
https://in.tradingview.com/chart/RxCGyCvs/Negatives -
We are underperfoming the global markets.
Gap up openings are getting sold out.
Positives -
Bank Nifty is near the 50 DMA / key support levels so we can reverse from here.
Today down move was more of expiry related
No worry as far as corona is concerned in the global markets.
Global markets have already confirmed these levels as bottom & they are reversing.
Analysis :
Nifty could not sustain the 18200 levels and went marginally lower.
This whole range of 18000 - 18200 is a key support area.
Option chain confirms 18200 as major resistance & 18000 as major support.
We are underperfoming the global markets.
Gap up openings are getting sold out.
Positives -
Bank Nifty is near the 50 DMA / key support levels so we can reverse from here.
Today down move was more of expiry related
No worry as far as corona is concerned in the global markets.
Global markets have already confirmed these levels as bottom & they are reversing.
Analysis :
Nifty could not sustain the 18200 levels and went marginally lower.
This whole range of 18000 - 18200 is a key support area.
Option chain confirms 18200 as major resistance & 18000 as major support.
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.