As expected Nifty today took support at 15750. I hope you guys enjoyed the fall. So what to expect now? 15800 is new Resistance for Nifty. As you can see in the chart. Though Nifty is in downtrend as you can see in the 15 minute chart. Nifty testing is 200 MA support, but I don't expect a big fall tomorrow. There will be two opening scenario for tomorrow. 1....
Yesterday I said there will be no upward momentum in Nifty because there is nothing positive to push it up. As predicted Nifty came for selling from 15920 and closed today below support level of 15834 and also below 20 MA, 50 MA. Tomorrow one can expect Nifty to go down 100 to 150 points. If it breaks it's support of 15750 then more downfall is expected. 15850...
Nifty shows a potential upside for tomorrow session. A perfect W bottom with clear diversion on TDI. The diversion is strong as the first leg of the diversion is outside the Bollinger band followed by the second inside leg. If it breaks the trend line we can expect the 61.8% levels tomorrow.