The top of the gap acted as support in the morning session.
Are we going to break this support and fill the gap in the afternoon session?
OR, will the top of the gap again act as support and Nifty will bounce up from there?
This is going to be interesting!
In this chart I have highlighted the gaps left by Nifty on its way up from the bottom formed in June (15184) to the top formed in September (18070).
Intraday traders should be cautious and alert when Nifty trades close to these gaps because any breach of the top line of the gap may lead to a sudden drop to the bottom level of the gap.
Options Contract Expiry...
This chart shows the 20 year channel for Nifty from 2002 to 2022 and how often it visits the bottom end of this channel.
It also shows the major crashes (2008 GFC crash and 2020 Covid crash) and the major corrections (2011, 2013 and 2016) in the last 20 years.
And it shows the levels at which Nifty found support and bottomed out during the above crashes and...
