The Nifty Trading Lounge

bpr

Well-Known Member
Guys In spite of all the bullish TA setups that we saw yesterday todays SBIN price action is telling something else.In spite the better than expected inflation numbers today's recovery was lethargic.
As I noted earlier there is a strong resistance at 1930 to 1940 range, though the price is currently very close to this range todays high came off the same range.
If the next two three daily candles gets rejected from this resistance range then that will be very bad sign and SBIN might take a fresh dive towards the south.(I don't know what could be the fundamental trigger)
In the other hand in case it is broken and then we may see slow and side wise recovery upto 2000.remember we have only 8/9 days left to expiry with 2 holidays.
What I am saying is the while the upside is capped but downside is uncapped for the time being.
Lets wait n watch
Guys update on SBIN as I said earlier the resistance 1930-1940 zone prevailed and SBIN did not recover.
If you are looking for up side then rest assured this is not going to happen this expiry where as there is still some chance that it might give something on the short side. Staring next expiry fresh analysis should be done before taking sides.
PS: The vertical line shows where the current month expiry ends.
 

Taurus1

Well-Known Member
Bullz can look for a reversal from 28th or 29th. :p :D
5380 is proving to be a tough nut to break. :cool:
 

Taurus1

Well-Known Member
SPX down 0.73%, hanging on to 1400
 

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