Am sorry Guys bit busy nowadays . So not able to update here.. Any way Hope you all remember that i had written 8000 will be the strong hurdle for nifty and 8025 will be the LAKSHMAN REKHA remember??? . And what else Happened . Nothing it Kissed 8000 and started falling Now yesterday closed at 7781 after making a low of 7770.
Now what to expect .
Yesterday at intraday time Nifty managed to trade higher price of 7949, But failed to hold over the top. As the selling pressure comes it started falling . Now as per current patter we can expect some more weakness till 7738.
If Nifty not able to hold above this level Then surely we could see more pain and will test 7685–7690 levels . Actually Nifty closed the right place where we can see a reversal , But not given any symptoms yet. If today if we get any Bull run Story candle at intraday hours we could see some relief movement till 7830—7850 but only above 7801
Chart saying Nifty Fut is ready for a Strong sell off below 7720 levels. So beware !
Reason??? Yes Trading below TL is the first reason , 2nd reason is trading below 39EMA, 3rd point is Sell run story candle shows selling pressure, Once the gap is filled and hold below the gap point for more that 84 mins then see blood bath !