PURELY TECHNICAL
Optimistic View - Nifty retraces to 7500 and rebounds back to current levels to complete a double bottom formation before breaking resistance @ 8900, in which case the target would be 10,000 (Max Call OI). This will become the next crucial resistance level.
Pessimistic View - Nifty retraces to 7500, either stays within 7500-8900 level or breaks lower to 6800 (Long term support level for Nifty - check monthly chart). Note - 8000 to act as short term support (Max Put OI).
Hey you reading this, would love to know what your views are. Do share buddy, thanks!
PS- I also see H&S ;)
Optimistic View - Nifty retraces to 7500 and rebounds back to current levels to complete a double bottom formation before breaking resistance @ 8900, in which case the target would be 10,000 (Max Call OI). This will become the next crucial resistance level.
Pessimistic View - Nifty retraces to 7500, either stays within 7500-8900 level or breaks lower to 6800 (Long term support level for Nifty - check monthly chart). Note - 8000 to act as short term support (Max Put OI).
Hey you reading this, would love to know what your views are. Do share buddy, thanks!
PS- I also see H&S ;)