Nifty has strong support at 5400 levels which is the savior as of now.
Last two days had strong buying happening intraday with the index moving up by more than 1% from the open.
Y'day the volumes were were in the 90th percentile and above indicating strong buying at 5400 levels.
Who would be buying at these levels when the other markets are falling? Good question and I do not have the answer about why?
Anyway the volume structure indicates that many times the fall in Nifty gets over when such heavy buying happens. The color as of now:
The daily color is now Neutral from Buy two days ago.
Last two days had strong buying happening intraday with the index moving up by more than 1% from the open.
Y'day the volumes were were in the 90th percentile and above indicating strong buying at 5400 levels.
Who would be buying at these levels when the other markets are falling? Good question and I do not have the answer about why?
Anyway the volume structure indicates that many times the fall in Nifty gets over when such heavy buying happens. The color as of now:
| 16-Mar | Weekly | Daily | 180 min | Hourly |
| Nifty | Lev Sell | Neutral | Sell | Sell |
| Bank Nifty | Sell | Neutral | Sell | Sell |
The daily color is now Neutral from Buy two days ago.
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