5692 Bearish kicker play for intraday
Complete sell off from 16680.
Reason for short
a) global negative sentiments.
b) wave 3 mission confirmed for downside ... downside may be rapid. (usually down side should be slow technically, as covid fall is rapid, this geopolitical tension should be slow and steady fall). But it looks fall may be rapid. Anything can happen in this market.
c) volume pressure as seen continuous FII selling.
Reason for short
a) global negative sentiments.
b) wave 3 mission confirmed for downside ... downside may be rapid. (usually down side should be slow technically, as covid fall is rapid, this geopolitical tension should be slow and steady fall). But it looks fall may be rapid. Anything can happen in this market.
c) volume pressure as seen continuous FII selling.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.