On EOD charts, nothing has changed. NIFTY traded within yesterday's bar forming an inside bar. The broader range remains at 5970-6220; nothing much may happen within this range though day traders might be able to make some trade if charts favour.
If you are long, your SL is 5970 spot... if you are short, your SL will be 6220 spot.
Overall trend remains down with nifty turning bullish above 6220 spot.
Intraday charts show mild selling pressure with no eagerness shown by bulls. Importantly markets closed below 6070F... this level becomes important when you see higher timeframe chart.
15 min charts show support at 6070F and the close below this level in last 10-15 min of the day.
If you are long, your SL is 5970 spot... if you are short, your SL will be 6220 spot.
Intraday charts show mild selling pressure with no eagerness shown by bulls. Importantly markets closed below 6070F... this level becomes important when you see higher timeframe chart.
15 min charts show support at 6070F and the close below this level in last 10-15 min of the day.
