Despite bearish -Sell RIP price action, multiple supports to hold NIFTY like major trendline in day frame, 17600 till 17577. Break of this and good price action can lead to major fall but doesnt seem likely. BNFTY hardly moving down, Bullish bounces shud give good scalping trades
Support of trendline generated gave bounce at 11.15 am. NIFTY taken support on trendline generated in day time frame today (also since 3 days).
more bearish move below 17570 (bounce frm around 17640) or bullish abv that (chances seem less). scalping shud b better
NIFTY's important bullish trendline which was support has now become Resistance. Tring to form a base at 17785, crossing 18k may sustain bullishnes. Below 17750 selling . NnkNifty quite bullish but weakness in NIFTY can cause it to collapse below 41600. Scalping sems better
Power of trendlines- in such strong uptrend break of trendline in NIFTY gave huge down move - all bull gains lost. BNF is still taking support from trendline . But selling only below 16960 and 39600 (confrmation below 39250)
Bnifty already about to breakdown a strong trendline but shud wait fro nifty to break 16960 -longer frame trendline on downside. good bounces with strong buy can also lead to good upmove
nifty takng support from yestrdays trendline and still sbove pDH, banknifty looking more neutraal (also wide CPr) but below trendline. if support tken can see upward movement else breakdown (can be slow and theta eating
Bearish structure but nifty at strong support 16900 and BNFty also intraday support. Can be a slow momentum downside -scalping shud help. buying only abv 17960-70
trend line break may bring an upside move- or is it a good opportunity to sell. More weight on sell side but may be in little while. till then scalping
NIFTY sharp and strong retracement -- above 20 EMA now. only rejection from 17150 can hep continue downtrend or we can see more upward move till 17180 and beyond.
in downtrend it can become strong after yestrdays tredn line broken below 17070
Bearish slow momentum with SL eating bounces. Seems to getting support ,also from yesterdays trend line. But gap covering and yestrdays SL hunting may take it down.
Rejection from 20EMA in 5m frame will be very cruial
Downtredn with sharp bounces- short with confirmation to get profitable short trades-scalping shud work better till major trend confirmation on downside
