Bank Nifty - 16 June 2023 - Closing Analysis & Important Levels
What a comeback by put writer's. Even i lost money as i was expecting a downward move after the 1st pullback at 43700. Put writer's covered the entire fall of 600 points in 24hrs. Quite interesting and one of those 40% probability things for which we should be ready each day.
Market was very straight, 2 pullbacks and tested the level of 44080 from where it fell yday.
I expected a major trend reversal like pattern (Double bottom, Higher Low) before such major recovery, but i was wrong today.
From this level market has higher probability to move upwards as indicated in case-1.
Or, it can make a doubletop @ 44050 and move downwards as indicated incase-2.
Enjoy your weekend !!
Market was very straight, 2 pullbacks and tested the level of 44080 from where it fell yday.
I expected a major trend reversal like pattern (Double bottom, Higher Low) before such major recovery, but i was wrong today.
From this level market has higher probability to move upwards as indicated in case-1.
Or, it can make a doubletop @ 44050 and move downwards as indicated incase-2.
Enjoy your weekend !!
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