I am Bearish on #NIFTY until it trades below 11170.
I am expecting today’s open below 11100.
Price acceptance below 11100 is not a good sign for markets!
11080, 11170 and 10980 levels are crucial for the day.
It was massive selloff with ORR drive, Price tried to sustain above 11245 and finally, initiative buying failed to move price above value. As a result, the massive fall was witnessed.
Overall auction is very clear and decisive about this fall and price also closed below major Resistance 11100. If price accepts below this level we can clearly say this is the beginning of the crash!. Open price behavior and initial range developments will reveal further clarity on the trade.
Overall 11100 is a make or break level for #NIFTY.
Compared to #NIFTY, #BANKNIFTY fall was more decisive. and I am also bearish on #BANKNIFTY until it trades below 20160.
28845 is the crucial level and also make or break level for #BANKNIFTY today.
28720, 28845 and 29160 levels are crucial for the day.
TRADE PLAN :
#NIFTY: I have a plan for an open trade only if price opens below 11100 and sustains with clear conviction. Odds of -ve Open Drive is quite high for the day!
Auction at the open is really important for the day.
#BANKNIFTY: I don’t have any plans to opt any trades in #BANKNIFTY, I will wait for the range to devolope and then takke any decision.
MARKET PROFILE VALUES:
Flexibility and execution speed is the keys to today’s trading session.
(Above information is my view of looking the markets and
there is nothing called Right or wrong in these dynamic markets,
Respect the risk, manage the money and plan your trades then approach with discipline)