My Take on what happened in #NIFTY Index Yesterday and Today
A classic play with Gapdown , Cover - Sell at Rise and the support
On 17th It was a Gap down opening , following by an attempt to cover which was then taken down by bears to a safe near term support point
On 18th the opening Gap Up was attacked by a Selling Pressure and then even the short term immediate was breached , it went to the next support
The second reason for the cover was the the candles were for a short term below DMA 20 on daily charts , which probably triggered buying
Please let me know your comments , feedback and corrections if any in my understanding
A classic play with Gapdown , Cover - Sell at Rise and the support
On 17th It was a Gap down opening , following by an attempt to cover which was then taken down by bears to a safe near term support point
On 18th the opening Gap Up was attacked by a Selling Pressure and then even the short term immediate was breached , it went to the next support
The second reason for the cover was the the candles were for a short term below DMA 20 on daily charts , which probably triggered buying
Please let me know your comments , feedback and corrections if any in my understanding
Email : portfoliobuddyts@gmail.com