NIFTY - EUPHORIA OR EXPIRY?

Jan 13, 2022

Nifty bulls continue to run on euphoric moves past 18150. Why this closing price matters is the question. 18100 closing price for this week is the life bi-monthly closing high. This is important mile stone. Above this area the next hurdle is 18300-350 area. This are at least once should give supply jitters to the bulls else we are on way to print ATH and move much higher. The short call is purely a corrective play and not change in the trend play. Change in the trend first signal comes only if we close below the 17800 which is far off while printing new high is at little less than equal distance. With weekly expiry the dice is set for profit taking. For the day reckon 18180-18320 should work with 30 pip violation area.