Nifty 50 trend analysis.

29 Oca 2022

As we can see on chart, bull flag is retesting,
We can only make long positions above 17,300 level
Also we can pyramid longs above 17,500 level

If we discuss about monthly contract of "Nifty 50"
It shows strong put writers active on 17,000 level
That indicates strong support zone.

And, fresh longs created on 17,500 level
It shows bullishness

But, below 17,000-16800 levels,
There is bearishness.

Note: Analysis for educational purpose only
Kindly consult your financial advisor before investing.

Thank you