Bank Nifty for the 3rd week, we have closed negative from the budget event
We have down around 2000 points this month expiry
Last week to the expiry
Our levels remain the same from the last week
As per our last week article, anything below 25350 levels, Bears will have control, probability on higher side for monthly low on cards
One trivia – consecutive 4 weeks downside, we have not witnessed till date after the weekly expiry introduction from June 2016
But market definition is “expect the unexpected “
Next support to watch for next few weeks – 25050-24820-24660-24330-23820
Resistance levels to watch- 25600-25730-26150-26450-26880
If, markets don’t fall below 25350, for the coming 5 days we can see market crawling back some lost ground, maybe up to 25730-26150 levels
Anything above that requires something magic from the domestic good news and global positive rebound
But however with Biggest BANK SCAM, markets are not falling below 25350 for next 5 days, that shows there is something smart money knows which we don’t know .time will tell
Always on downside, bulls test bears for a long time till bears turns mildly bullish, and bulls turns ultra bearish
For traders, it will always be risk management we should look into first, and then comes the price, volume and time analysis
Get ready for another volatile week ahead
In volatile markets, traders need to be fast in getting in and out; few minutes will destroy all the gains of week and months
Should be flexible is the mantra in volatile market on both sides
With predetermined risk levels and probable and realistic return expectations
Trade from savings money
Trade with predetermined mindset, that each minute is unique
Be ready for the pain point
I and you shall work towards better execution of our trading plan
All the best
Sagar U.S
