Nifty opens flat at 18230.
As we discussed in the previous post to go up, it should sustain 18230 levels , Though it did not sustain 18230 levels and slipped through the immediate support levels { 18180-18160 } in the very first hour suggesting weakness may continue in the rest of the session, further to the next support levels at 18100 - 18050
Shorts are initiated with a stop at the day's high or midpoint of the first-hour bear candle.
We saw weakness in the next hour and following, where prices tested 18100 - 18050
No bottom phishing at support, because different timeframes are not in alignment.
Resistance at 18100- 18130
Volatility may increase
One can sell aggressively if it slips below 18050-18030, where we could see it moving fast towards 17800 - 17650 levels.
Disclaimer: Trade at your own risk
As we discussed in the previous post to go up, it should sustain 18230 levels , Though it did not sustain 18230 levels and slipped through the immediate support levels { 18180-18160 } in the very first hour suggesting weakness may continue in the rest of the session, further to the next support levels at 18100 - 18050
Shorts are initiated with a stop at the day's high or midpoint of the first-hour bear candle.
We saw weakness in the next hour and following, where prices tested 18100 - 18050
No bottom phishing at support, because different timeframes are not in alignment.
Resistance at 18100- 18130
Volatility may increase
One can sell aggressively if it slips below 18050-18030, where we could see it moving fast towards 17800 - 17650 levels.
Disclaimer: Trade at your own risk