Nifty 15097 - Thursday session review
Bar 1 -Bulls pressure decreases.
Bar 2 & 3 - Retail Profit bookers push down the price.
Bar 4 & 5 - Bulls strength unable to push through.
Bar 6 - Smart money force sell off and absorb the volume to increase the demand and increases the bull strength.
Bar 7 & 8 - Demand increases and bulls build up stength.
Br 9 - SM flush...
Sustaining 14980 - 15020 will make the price to move towards 15060, 15120, 15180, 15220 and 15260. Bearish below 14980 for the targets 14940, 14900, 14860 and 14820.
GOOD MORNING FRIENDS.
DATED 16.02.2021
**SPOT LEVELS*****
NIFTY CMP 15314
PCR -1.43
RSI -71.45
RESISTANCE LEVELS 15330 if nifty cross and sustain, it may test 15450-500 soon
SUPPORT LEVELS ,15300,15250
Nifty has strong support at 15250 also has considerable OI at 15300, so if it come down to 15300 near it would be a buy opportunity for Target...
Price action is moving within the range 15000 - 15260. Sustaining 15240 - 15260 will make the price to move toards 15320, 15360, 15400, 15460 and 15480. Bearish below 15180 for the targets 15140, 15080, 15020, 14960 and 14920.
As Volume decreasing with Nifty (futures) price going up and signals diverged, We assume Smart money is in the verge of completing distribution. Consider booking profits, if on long with support 15106 and going short below the same for target 14650
Sustaining 14980 - 15020 will make the price to move towards 15060, 15090, 15140, 15180 and 15220. Bearish below 14960 for the targets 14920, 14860, 14820 and 14760.
