Multi Time Frame Analysis -
1 hr TF - Support has been tested for 3 times. A breakdown is likely.
15 min - Clear no trade zone between 24600-24300 (high premium decay)
Banknifty's previous low was protected but Nifty low of 11710 was broken.
Global Cues - Absolute bloodbath in the global markets. Dow and E100 both are trading under crucial levels. Dow broke the 27000 range and is trading below it.
SGX NIFTY is indicating a gap down opening.
Only about 3 days left before the election and expecting similar volatility.
Scenario's for tomorrow-
Flat to Gap Down - Clear short below 24100 for targets of 23800
Tomorrow being expiry, trade with caution as there might be a lot of whipsaw moves
Happy Trading!
1 hr TF - Support has been tested for 3 times. A breakdown is likely.
15 min - Clear no trade zone between 24600-24300 (high premium decay)
Banknifty's previous low was protected but Nifty low of 11710 was broken.
Global Cues - Absolute bloodbath in the global markets. Dow and E100 both are trading under crucial levels. Dow broke the 27000 range and is trading below it.
SGX NIFTY is indicating a gap down opening.
Only about 3 days left before the election and expecting similar volatility.
Scenario's for tomorrow-
Flat to Gap Down - Clear short below 24100 for targets of 23800
Tomorrow being expiry, trade with caution as there might be a lot of whipsaw moves
Happy Trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.