Nifty May Bounce Back if...
So yesterday #Nifty washed away previous 2 days' gain. It may happen today once again.
On other note, global data showing a bounce back plus, Reliance's new JV with Disney may also contribute to Nifty's bounce back.
However, game is simple today. I will be watching 1st hour's candle made and that will decide the direction of market today.
If it's high broken we may see a good short covering to 22055/22149 levels. If the lows are broken then further slide to 21874/21732 seems probable.
This is also Weekly and Monthly expiry for index and stock options as well. We may also have a range bound day.
Yes, everything seems mixed.
So play very very carefully. No aggressive trades until Nifty shows a sign of bounce back.
On other note, global data showing a bounce back plus, Reliance's new JV with Disney may also contribute to Nifty's bounce back.
However, game is simple today. I will be watching 1st hour's candle made and that will decide the direction of market today.
If it's high broken we may see a good short covering to 22055/22149 levels. If the lows are broken then further slide to 21874/21732 seems probable.
This is also Weekly and Monthly expiry for index and stock options as well. We may also have a range bound day.
Yes, everything seems mixed.
So play very very carefully. No aggressive trades until Nifty shows a sign of bounce back.
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