NIFTY- Price Action during the day and View for next trading Sessions

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CRAME NOTE ON INDEX PERFORMANCE - May 13, 2020

The index opened above the second upside target as mentioned in the last CRAME NOTE. However after the gap up, the index witnessed consistent selling through out the day, though it closed above the previous close. Some interesting things to observe is that despite the selling pressure witnessed at higher levels the index made a triple bottom in the intraday chart near an important fib ratio and closed above it. Given the weekly expiry and that the big announcement about economic reforms has already been one can expect a volatile session tomorrow. Important levels to watchout for on the downside is 9260-9230. If this gets defended the index can attempt 9700 levels. On the upside 9770-9820 levels can act as supply zones. If these levels get taken out decisively a fresh up move can start for targets of 10300-10450 levels. 


DISCLAIMER
The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.




Analysts

Prof. Binu  P Paul PhD
Prof. Soumya V ACSI

Comments

  1. suman kumari29 January 2022 at 13:57

    Dear Admin, Your Blog Really Good. Thanks For the Informative Post And The Chart Pattern.

    Indices Trading

    ReplyDelete

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