Nifty 50 has formed Three Inside Down candlestick pattern and the Bulls are losing momentum In Option Chain of Nifty 50, there is heavy call writing at 12000, 12050,12100 Levels so they will act as Strong Resistance On the 11950 levels, there is a good amount of call writing but put writing is less. On the 11900 levels, there is a good amount of call as well as put writing so you need to watch out 11900 levels but a Downside is surely expected
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Add a Stop Loss at 11921.5 which will help this trade remain profitable if the sentiment of the market changes drastically.