my view as per global markets and SGX Nifty is positive so let me buy on support.
There maybe bearish view at least at today as it will continue as FLLs sell on started
NIfty maybe be in consolidation phase or down trend fall
Consolidation phase range on expiry gap up 14674 - 14535 gap down 14535 - 14350
Consolidation phase only range gap up 33389 - 33203 gap down 33203 - 32739 mostly consolidation
Bearish view of bearish News - Lockdown everywhere in India Technical - 1) If market gonna crush with good volume and strong bearish candle then market will crush. 2) To where the crush will continue ~~ If market breaks 33389 with strong red candle then ~~ It will go to 32842 to 32607. ~~ Even if it breaks then 31489, 30945
I expect bearish view as nifty above to break trendline
Bearish view It should breakdown 33389 1) go to 32842 then farther 2) 32607 is support zone. if it breaks farther, then 31489, 30945. Bullish view Market should halt for 2hrs & should break 34983
Nifty 50 overall market analysis with vertical volume profile which will guide that the max volumes were created in this, so that Support and resistance lines to were very clear.
Market is unlikely to go up before reaching 32800 levels so it may bounce back from then after a very wide consolidation
the market is at crucial level of 14800 to 14450. Which ever direction it breaks then that way it will move.
Bearish view 1) If it has to breakout at bottom of channel then it must close below middle channel line this week. 2) As it already made some small lower highs but a spike today had disturbed the clear lower breakdown way so I expect the could move to upward
Its also gonna touch some highs so i am bullish as Sgx nifty is bullish at time 15060
There is simple term its likely nifty can open gap up as Sgx nifty is up by 15060
Nifty analysis for Tuesday mostly I expect for buying