Nifty 50: Tug of war. Are Bears losing??
19300 level proved to be a strong support. After first 15 mins of selling in the market, we saw buying in the market.
whole day we saw Bulls stepping in at every level (350/400).
Although it is forming a strong Daily candle, we can't be so sure that it will resume Bullish on upcoming days.
This move back to 19420 might just be a pullback and retest of this level before resuming a down move.
16th august will be a deciding day. if market will manage to do a upmove and close strongly above atleast 560, we can be sure to see a continuation of upmove.
In case the market will open weak and close below 300, it will reassure us that bears are strong.
Right now i am closing the charts with a neutral view. Push-Pull is going on at the moment.
whole day we saw Bulls stepping in at every level (350/400).
Although it is forming a strong Daily candle, we can't be so sure that it will resume Bullish on upcoming days.
This move back to 19420 might just be a pullback and retest of this level before resuming a down move.
16th august will be a deciding day. if market will manage to do a upmove and close strongly above atleast 560, we can be sure to see a continuation of upmove.
In case the market will open weak and close below 300, it will reassure us that bears are strong.
Right now i am closing the charts with a neutral view. Push-Pull is going on at the moment.
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