Is the Monthly Nifty expiry gonna be a volatile climax???
Nifty
We are looking at daily charts of Nifty
- Since July 20, Nifty is trading in a falling channel
- Currently Index is seen struggling to re-claim 21 day EMA zone
- Nifty Closed below 50 day EMA after 31 March 2023
There could be a pullback attempt from here but if Nifty closing by Wednesday is below 50 day EMA, then we might see some further downside.
Important levels on the upside: 19322 / 19384 / 19440
Important levels on the downside: 19196 / 19080 / 18966
Take care & safe trading...!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
We are looking at daily charts of Nifty
- Since July 20, Nifty is trading in a falling channel
- Currently Index is seen struggling to re-claim 21 day EMA zone
- Nifty Closed below 50 day EMA after 31 March 2023
There could be a pullback attempt from here but if Nifty closing by Wednesday is below 50 day EMA, then we might see some further downside.
Important levels on the upside: 19322 / 19384 / 19440
Important levels on the downside: 19196 / 19080 / 18966
Take care & safe trading...!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
A pullback was on expected lines. Interestingly Nifty high is exactly at the top of down trend channel