Nifty 50 - Are bears in ???

NIFTY is too hot to handle right now. If we look at the current scenario, it is creating huge volatility, making both the bulls and bears hold their heads.

Global cues are under pressure. US market as well as European market ended in red on Friday and SGX Nifty is also showing weakness for the short term.

As per the chart, we should avoid taking any position until Nifty is in between 15680 to 15760, breaking either side may give us a good move.

In case of huge gap up or gap down opening, first let the existing players decide the direction of the market.

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Comment:

Huge gap down opening, as expected. Now look at the description, I told you that let the existing players decide the move in the first 15 minutes. Due to huge gap down, the existing seller got huge profit overnight so they started covering their short positions ( Profit Booking ) and new buyers also got activated after seeing bulls on the chart and made the index reach at least yesterday's closing.

First 15 minutes plays a key role when markets opens huge gap up or gap down.