Buyers have indeed pulled this up riding against the tides (resistance) with strong support from Reliance today.
Was favorable due to a huge gap up (+210 ticks), breaking Previous Day High, breaking currents days Resistance S1, S2 levels and was in a Strong Buy Zone.
Respect to 16400 Resistance level is noteworthy and thus requires a swing to break those levels to see a momentum up and a couple of swings sideways to get it really going towards Bulls.
On the down side, a rally to 15800 seems unlikely but cant ignore as well due to considerably negative global market sentiments.
Was favorable due to a huge gap up (+210 ticks), breaking Previous Day High, breaking currents days Resistance S1, S2 levels and was in a Strong Buy Zone.
Respect to 16400 Resistance level is noteworthy and thus requires a swing to break those levels to see a momentum up and a couple of swings sideways to get it really going towards Bulls.
On the down side, a rally to 15800 seems unlikely but cant ignore as well due to considerably negative global market sentiments.
Nota
Favorable Reasons to enter a trade for 50 points rally (20May CE@16150)Resistance up at 16200
Daily Pivot at S3 broken
Volume built for upside
Volatility is down to 23
Large OI buildup at 17050
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.