Indeks Nifty 50

Price pushing higher despite monthly bearish look in Nifty

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There is still a monthly fair value gap sitting at 21137.20, which I believe will be filled this month only. Now the current prices look bullish on the daily as well as hourly charts, meaning the prices might push higher towards the all-time high and then it might begin a down trend to reach the monthly fair value gap.

For tomorrow, if market opens Flat, I will be looking for shorts on a retracement to the hourly fair value gap and longs from that hourly fair value gap to the all-time high.

If market gaps up or gaps down, I will adjust my view according to how prices move in the first 15 minutes.

This is to imply that, I do not see a clear direction for tomorrow’s move right now.

Penafian

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