23/01/2024
23-JAN-2024 NIFTY opened a GAP Up around 21700+ and hit high of 21750 but after than it was all red no green or bullish sentiments where found in the market today, it was a one sided PE game with HIT Player 21600 Pe Made Low of 37.30 then rallied upto 463, it was a jackpot trade for option trader's
Now the daily closing chart is not good enough after this dip, Today's closing below 21400 indicates nifty is selling pressure, another dip from here brings NIFTY to its Support of 21050, this level was tested twice in December but gave a sharp bounce back, but there is a cross over of 3:30 days EMA which indicates weakness in short term moving averages, but for now we can assume NIFTY at lower level will take support at 21050 and on the upper side sustain above 21400 can help nifty to regain 21550-21600 level where again nifty can be range bound. Overall sentiment bearish unless sustain above 21400 closing basis
( Views are my personal and charts are for educational purpose )