nifty expiry analysis

Traders Lounge
1

currently nifty is trading in a range 24160-24260

since nifty has given closing above 24200, high chances are that it will give a range breakout tomorrow and as soon as today’s high breaks T1-24360, T2-24530

and if a range breakdown happens or it opens near 24060-24050, then this level will act as a strong support and its breakdown can lead to 23890-23880

3 Likes
2

My bias is bearish for tomorrow if the price break the range and gives me rejection candle.

3

Why your bias is negative?

4

Now you understand why my bias is bearish.

5

Your bias was right but what was the logic behind it? Only one thing that comes to my mind is that PCR was very high so to adjust premiums market needed to come down, any other reason?