📈📊Short Market Update📊📉
Nifty has closed above 21 DEMA with convincing immense buying pressure. This is reflecting a return of strength in the market. Expect this momentum to continue for next few sessions. The only thing bothering me is the bear flag formation which is still continuing. To negate that Nifty has to give a close above the critical level of 18197. This will ruffle the feathers of call writers at 18200 leading to a short covering depending on where they put their stop losses. I am yet to get a hint of the exact stop loss number but I am hopeful that I will get that soon. If the closure happens tomorrow. We are back in the bull run. Expecting a gap down opening opening followed by up trend covering the gap. Today, the levels we discussed yesterday worked excellently. Let's see what happens tomorrow. If you see a gap down opening just buy 18100 CE and sit tight for a ride.
Nifty has closed above 21 DEMA with convincing immense buying pressure. This is reflecting a return of strength in the market. Expect this momentum to continue for next few sessions. The only thing bothering me is the bear flag formation which is still continuing. To negate that Nifty has to give a close above the critical level of 18197. This will ruffle the feathers of call writers at 18200 leading to a short covering depending on where they put their stop losses. I am yet to get a hint of the exact stop loss number but I am hopeful that I will get that soon. If the closure happens tomorrow. We are back in the bull run. Expecting a gap down opening opening followed by up trend covering the gap. Today, the levels we discussed yesterday worked excellently. Let's see what happens tomorrow. If you see a gap down opening just buy 18100 CE and sit tight for a ride.
