Mentorship InstaView: Channel Border Protected … so far

9 Şub 2021

Nifty View: The range of resistance within (15,200-15,300) proves itself in today’s session. Benchmark Nifty with many sectoral indices did slip ⛷quite a bit from their respective intra-day highs. Do not consider this as a trend reversal yet, as the underlying trend of the index is very much UP ⬆️ and intact. Intermediate divergence is prevailing between price and momentum and based on that we can expect some consolidation and slow down. 14,900 acts as the immediate support for the index, a slip below which can see a test of (14,600-14,800). Strategically I will not suggest to go outright bearish 🐻 right now and see off at least the first leg of fall. On the other hand, looking for long opportunities at lower levels and close to supports will be much better off.

Thank you for following my work and please feel free to share your thoughts and suggestions.

Trade Well. Trade Wise.