As everyone can see whenever price touches upper range of downward channel,it gave a sudden fall.
On 29th April price breakout from channel but unable to sustain there and next day it fall back inside the channel.
Here we have two confirmation- 1st-> Those who entered at breakout now in pain they will start covering(False breakout or Bull Trap)
2nd-> Those who sell at resistance now selling more.
So from both side we will see selling pressure till Major positive news will not come.
It may touch 14200 first then bottom of channel.
Also there is Huge Call writing at 15k and 16k, but no significant put writing ==>> Indicating bearishness.
This is not buy and sell recommendation .Consult your financial advisor before taking any trade.
On 29th April price breakout from channel but unable to sustain there and next day it fall back inside the channel.
Here we have two confirmation- 1st-> Those who entered at breakout now in pain they will start covering(False breakout or Bull Trap)
2nd-> Those who sell at resistance now selling more.
So from both side we will see selling pressure till Major positive news will not come.
It may touch 14200 first then bottom of channel.
Also there is Huge Call writing at 15k and 16k, but no significant put writing ==>> Indicating bearishness.
This is not buy and sell recommendation .Consult your financial advisor before taking any trade.