What a crazy day in the market!! Great experience..
Nifty flash crashed in the morning by more than 1000 points in 30 min.. But the 8900 area proved to be the strongest support in the monthly chart of NIfty.
100EMA + Previous swing high + Monthly trendline + 61.8% retracement level
Although I made good money by using long momentum, but will not hold any position overnight in this extreme volatility. It will be wise to wait and watch for some consolidation around 9000-10000 level and let the market decide whether it wants to go down even more or it's time to recover.
Nifty flash crashed in the morning by more than 1000 points in 30 min.. But the 8900 area proved to be the strongest support in the monthly chart of NIfty.
100EMA + Previous swing high + Monthly trendline + 61.8% retracement level
Although I made good money by using long momentum, but will not hold any position overnight in this extreme volatility. It will be wise to wait and watch for some consolidation around 9000-10000 level and let the market decide whether it wants to go down even more or it's time to recover.