These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
Nothing seems to have changed since yesterday. Except for the volatility. The Nifty is struggling with the resistances overhead. At the same time, it is also receiving good support.
There should have been enough strength today, which should have allowed the Nifty to break its shackles. However, it has failed.
Therefore, please expect a downside. This downside could again retest the 3650 levels, and in all probability, it could also be penetrated. This could turn out to be a classic bear trap.
Trade happy.
Nothing seems to have changed since yesterday. Except for the volatility. The Nifty is struggling with the resistances overhead. At the same time, it is also receiving good support.
There should have been enough strength today, which should have allowed the Nifty to break its shackles. However, it has failed.
Therefore, please expect a downside. This downside could again retest the 3650 levels, and in all probability, it could also be penetrated. This could turn out to be a classic bear trap.
Trade happy.
2 comments:
"Bear Trap" meaning bears trapping bulls or bears themselves getting trapped ??
Looks like bears trapping the bulls, but wanted to confirm...
reg
ketan
The scenario which I had outlined this morning was that the bears would get trapped, if the downside is penetrated mildly.
As of now, I think only the bulls are being squeezed out of their long positions, by bigger bulls.
Dusant
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