Nifty - Weekly Expiry
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I've marked 3 Zones in the chart. Now, Nifty can close in any of the 3 zones, and one way to know where the index might close is the following:
I'm hoping we'll get some clarity at least by 1:14
These are my views, and not any sort of recommendation. Use your own judgement to enter trades, and try to have stop loss.
Will update my views once the market opens.
Good Luck!
- Keep an eye on where the 2 Hour Candles close. First candle closes at 11:15 AM, and 2nd by 1:15 PM.
- If any of the 2 candles close in the Green / Red Zone, it means Nifty will end the day in that Zone.
- Otherwise, Nifty may be range bound in the Grey Zone.
I'm hoping we'll get some clarity at least by 1:14
These are my views, and not any sort of recommendation. Use your own judgement to enter trades, and try to have stop loss.
Will update my views once the market opens.
Good Luck!
Nota
Nifty opened in the Grey Zone, and movements are confined inside it so far.It's just a guess for now, but Nifty may take some time before testing either of the two levels marked in the chart - 16945, 17160.
Till then, I will play mostly trade for a very small profits.
Nota
CMP 17061. 17038 may act as support.Nota
Still inside the grey zone.1st 2 Hr Candle closed 17014.25
2nd 2 Hr Candle closed 17021.3
My guess is that Day would end in either Grey or Red Zones. But the index may take a weak bounce before trending down.
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