As we have been discussing Nifty Analysis posts NIFTY continious to it's bullish trend.
Yesterday also it consolidated nicely and in last hour bulls came with the huge volume and took the market up and closed Higher.
As market Strong rresistance has already broken. So, It should act as a nice support here onwards.
our view will be Bullish only for today.
Reason:
1. Succesful breakout of the Strong resistance
2. RSI is in Bullish reason and showing good strength.
3. Tripple Bottom shows nice comeback from 19250. shows hard bullishness with nice volume from bulls in last hour.
4. SGX Nifty is opening sideways means look for the initally 15 min trend and you can get into the position.
5. PCR = 1.25
Verdict:
As today is expiry better play safe.
Sell 19550 PE and Buy 19550 CE
Yesterday also it consolidated nicely and in last hour bulls came with the huge volume and took the market up and closed Higher.
As market Strong rresistance has already broken. So, It should act as a nice support here onwards.
our view will be Bullish only for today.
Reason:
1. Succesful breakout of the Strong resistance
2. RSI is in Bullish reason and showing good strength.
3. Tripple Bottom shows nice comeback from 19250. shows hard bullishness with nice volume from bulls in last hour.
4. SGX Nifty is opening sideways means look for the initally 15 min trend and you can get into the position.
5. PCR = 1.25
Verdict:
As today is expiry better play safe.
Sell 19550 PE and Buy 19550 CE
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