The 'Critical' Friday! And Why is that?
מעודכן
17667 - This is the key level to watch.
I said Friday's movement in Nifty is going to be critical since it could potentially tell us if the index going into a correction or if it'll advance towards 18000 level.
Downside
A close below17667 on Friday simply means Nifty's headed back to 16930 levels, and if that support is shattered, then 16500 and beyond.
Today Nifty closed below this key level, and we'll have to see if Nifty tries to get near this level tomorrow.
Upside
A close above 17667 just means no sign of correction yet.
Now Plain English:
> Bank of England Raised the Interest rates, and that kind of spooked the World Markets already.
> 'Pundits' already started giving out their predictions as to number of Fed Hikes. So say 3, few 4, one predicted 7 hikes :). So, the drama starts.
> Last 2 days, 'Markets Cheered the Budget'. May be Markets are tired now.
> Too many calls sold today. if it continues tomorrow, we should expect a fall. If they close their shorts on the calls, we should be careful.
My call, we may see a gap down if Indian Markets are spooked as well with BOE hike.
Markets might go down next week, and that means Nifty should close below 17667 tomorrow. Only thing that concerns me is that on Wednesday, Nifty closed above this level. So it's a wait and watch.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
I said Friday's movement in Nifty is going to be critical since it could potentially tell us if the index going into a correction or if it'll advance towards 18000 level.
Downside
A close below17667 on Friday simply means Nifty's headed back to 16930 levels, and if that support is shattered, then 16500 and beyond.
Today Nifty closed below this key level, and we'll have to see if Nifty tries to get near this level tomorrow.
Upside
A close above 17667 just means no sign of correction yet.
Now Plain English:
> Bank of England Raised the Interest rates, and that kind of spooked the World Markets already.
> 'Pundits' already started giving out their predictions as to number of Fed Hikes. So say 3, few 4, one predicted 7 hikes :). So, the drama starts.
> Last 2 days, 'Markets Cheered the Budget'. May be Markets are tired now.
> Too many calls sold today. if it continues tomorrow, we should expect a fall. If they close their shorts on the calls, we should be careful.
My call, we may see a gap down if Indian Markets are spooked as well with BOE hike.
Markets might go down next week, and that means Nifty should close below 17667 tomorrow. Only thing that concerns me is that on Wednesday, Nifty closed above this level. So it's a wait and watch.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
הערה
One thing I forgot to mention - the Levels 17667 & 16930 are based on Weekly Time Frame support / resistance levels.
כתב ויתור
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