The gap up opening today is very much part of the high volatility and the key support of 5400 levels for Nifty. Holding 5400 is the life line for bulls.
This being the first gap up in the downtrend will be crucial future direction decider. This is best point to know the strength of sellers as they get a real good point to sell where the bulls have head start. Worth watching the action.
Today partial shorts can be cut at 5515 levels for Nifty and 10700 levels for Bank Nifty. The daily color is still Lev Sell.
Worth noting is the recent out performance by Banks w.r.t other heavy weights.
Color charts.
This being the first gap up in the downtrend will be crucial future direction decider. This is best point to know the strength of sellers as they get a real good point to sell where the bulls have head start. Worth watching the action.
Today partial shorts can be cut at 5515 levels for Nifty and 10700 levels for Bank Nifty. The daily color is still Lev Sell.
Worth noting is the recent out performance by Banks w.r.t other heavy weights.
Color charts.
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