Bearish Engulfing Candle has formed which is signalling further down move
As its also expiry day some profit booking may be seen which again signals a downtrend
Bollinger Band is contracting which shows market my be range-bound
As Bollinger Band is showing Rangebound movement and there is a strong resistance level at 11850 level there is a slight possibility that the market my first be range bound and test 11850 Resistance level and then make a modest down move so don't just directly jump into a short position as the market opens as tomorrow's market seems to more range-bound but modestly bearish .
If you want you can also apply Bull Call Spread which will give you good profit as the premiums are very low on the expiry
As its also expiry day some profit booking may be seen which again signals a downtrend
Bollinger Band is contracting which shows market my be range-bound
As Bollinger Band is showing Rangebound movement and there is a strong resistance level at 11850 level there is a slight possibility that the market my first be range bound and test 11850 Resistance level and then make a modest down move so don't just directly jump into a short position as the market opens as tomorrow's market seems to more range-bound but modestly bearish .
If you want you can also apply Bull Call Spread which will give you good profit as the premiums are very low on the expiry
Idea Berkaitan
Short Nifty
Prem_Agrawal
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