** PLEASE NOTE THAT ALL LEVELS MENTIONED ARE SPOT **
Good evening! 30800 is proving to be a make-or-break level for the index as of now. Although there wasn’t much selling (or buying) by IIs, the market managed to fall under its own weight (high P/E). Given that retail investors have been redeeming their MF investments m-o-m, they will be looking to plough it back in at lower levels, indicating a lack of buyers at current levels. However, if FIIs keep buying relentlessly, there will be no stopping in increasing the magnitude of this bubble. So please refrain from taking long-term positions until there is a clear direction and scalp the volatility.
LONG, if the index sustains above 30800 for targets of 30900-31050-31350. In case of a gap-down, one can go long if the index takes support around 30500.
SHORT, if the index breaches 30500, and fails to recover, for targets of 30350-30200-29900. In case of a gap-up, any weakness around 30800 should be used as a shorting opportunity.
** Please ‘like’ if you find my analysis useful. Critical ‘comments’ are humbly invited. **
Good evening! 30800 is proving to be a make-or-break level for the index as of now. Although there wasn’t much selling (or buying) by IIs, the market managed to fall under its own weight (high P/E). Given that retail investors have been redeeming their MF investments m-o-m, they will be looking to plough it back in at lower levels, indicating a lack of buyers at current levels. However, if FIIs keep buying relentlessly, there will be no stopping in increasing the magnitude of this bubble. So please refrain from taking long-term positions until there is a clear direction and scalp the volatility.
LONG, if the index sustains above 30800 for targets of 30900-31050-31350. In case of a gap-down, one can go long if the index takes support around 30500.
SHORT, if the index breaches 30500, and fails to recover, for targets of 30350-30200-29900. In case of a gap-up, any weakness around 30800 should be used as a shorting opportunity.
** Please ‘like’ if you find my analysis useful. Critical ‘comments’ are humbly invited. **
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免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。