Nifty: Likely to Test 16500 by the End of The Month

It is trying to take support from demand zone but follow through is missing on the upper side. Also there is Distribution happened on the upper side.
There is a high probability to test 16500 zone at the end of this month...

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This time I don't think so buyers can take control from 17800-17900 demand zone...(small bounce is possible).
They already took control on 20th March but failed to take price to the next supply zone. In short Buyers are weak...

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If Highest Long Side OI @ 17000 and 16800 is a strong Support then why not getting follow through on the upside.
Expecting sideways trend between 16765 to 17100....

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Because of weak buyers price not sustains on the upper side.

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This time unlikely to take support from 16850-16900 Demand Zone....

Trade closed: target reached

svapnilchoksi

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svapnilchoksi

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