TheNoobDayTrader

Nifty Analysis for 27th July 2021

NSE:NIFTY   Nifty 50 Index
Before we begin let's take a look at what happened on 26th July 2021. Until now Nifty was following US markets and Nifty opening was mostly influenced by US market. So it was expected that Nifty will open gap up or in positive on 26th July but Nifty opened in red. Around 10.35 Nifty made it's day high 15892 and from there slowly started falling.

Nifty closed below it's important level, which is 15835 to 15845.

Global market is mixed to negative.
SGX Nifty is showing positive opening for Nifty . At the time of publishing this SGX Nifty is trading at 15880.
Now important level for Nifty is 15800 and 15751, once these levels are broken Nifty is expected to go down to fill the gap up to 15648.
Market will remain volatile like today until there is a clear breakout or breakdown because people are getting confused due to range bound Nifty .

Nifty is near it's 200 MA and if Nifty fail to take support near it's 200 MA then selling is expected.

Don't trade the first 15 minute of opening because of high uncertainty and high volatility .
Always look at levels, No matter who say what (including me). If Price reverse from a level, then you should sell and if price take support near a level, then you should buy.
Thank you.