On Friday I changed my stance from bearish to neutral since we had a strong performance. We pushed through the 44068 resistance and maintained those levels. But today we dropped below that and even closed lower.
Notice we took out the 44068 level in the opening 5mts candle itself. From there we hit a new swing low of 43796 and then recovered...
Recap from yesterday: “For Monday, I wish to continue my neutral stance but keep my options open for bullish moves. The moment 19776 is tested and broken — we can expect further participation to take Nifty much ahead. For the bears to make a comeback — the US markets have to close in DEEP RED today.”
Nifty opened mega gap-down due to the shocking...
Falcon Analytics Outlook Nifty 50 for the Expiry week ( May 23 – May27 )
As Discussed in Last Weekly Analysis Nifty sold off from major resistance @ 16387 while the major support for the week @ 15560 was not breached.
Technically for this week on the daily charts we see major support on the downside for Nifty50 index lies at 15726 levels,
This feels fairly possible.
We have a poor low, lot of liquidity rests there.
Given the macro conditions of the world, this becomes quite possible.
Take the liquidity resting below then a big squeeze to ~$160-170 is what I imagine.
Get out of stocks, very bad time to buy something in historical highs and in a face of war/nuclear war. Im finding entries in swiss franc. Regards
This analysis is designed to provide information that CTS believes to be accurate on the subject matter, but is shared with the understanding that the author is NOT offering individualized advice tailored to any...