Nifty 50:
The index has failed to hold our previously mentioned support @ 22300.
A gap of 575 points has also been left down.
What happened?
The previous support @ 21700 was bought in.
Followed by the short covering which also led to the formation of a strong bullish candle.
What next?
We have to wait for the next few days candle to verify the volume and momentum follow up.
The gap could act as a significant resistance, trapping the buyers.
Cheers
The index has failed to hold our previously mentioned support @ 22300.
A gap of 575 points has also been left down.
What happened?
The previous support @ 21700 was bought in.
Followed by the short covering which also led to the formation of a strong bullish candle.
What next?
We have to wait for the next few days candle to verify the volume and momentum follow up.
The gap could act as a significant resistance, trapping the buyers.
Cheers
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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.