Total Volume and closing were strong today — that’s a good sign.
But the only concern is that sellers' volume was 218 million more than buyers. That’s a big gap and something we can’t ignore.
NIFTY Pivot is at 24,524, and Pivot Percentile is 0.29% — that’s slightly high, so expect volatility.
If Nifty opens with a gap down and then sustains above the Pivot for 1 hour, we might see a good upside, and it would be worth chasing.
A gap-up open won’t be ideal — a controlled open near the pivot is better.
Apart from sellers’ volume, everything else looks bullish.
Even the options data is pointing toward a move up, with a target zone near 24,800.
So, my view for tomorrow is cautiously bullish.
BANKNIFTY is looking much stronger than Nifty.
This time, the rally might be led byCNXPSUBANK .
- Support: 55,294
- Resistance: 55,650
If BankNifty moves, chances are Nifty will follow as well.
Top Sectors to Watch:
CNXIT
CNXPHARMA
If you remember, I had mentioned earlier — this time when the market starts bouncing back from the bottom, IT sector will be the first to run.
That’s all for today.
Plan your trade and Trade your plan.
Take care. Have a profitable tomorrow.
But the only concern is that sellers' volume was 218 million more than buyers. That’s a big gap and something we can’t ignore.
NIFTY Pivot is at 24,524, and Pivot Percentile is 0.29% — that’s slightly high, so expect volatility.If Nifty opens with a gap down and then sustains above the Pivot for 1 hour, we might see a good upside, and it would be worth chasing.
A gap-up open won’t be ideal — a controlled open near the pivot is better.
Apart from sellers’ volume, everything else looks bullish.
Even the options data is pointing toward a move up, with a target zone near 24,800.
So, my view for tomorrow is cautiously bullish.
BANKNIFTY is looking much stronger than Nifty.This time, the rally might be led by
CNXPSUBANK .- Support: 55,294
- Resistance: 55,650
If BankNifty moves, chances are Nifty will follow as well.
Top Sectors to Watch:
CNXIT CNXPHARMA If you remember, I had mentioned earlier — this time when the market starts bouncing back from the bottom, IT sector will be the first to run.
That’s all for today.
Plan your trade and Trade your plan.
Take care. Have a profitable tomorrow.
TrendX INC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TrendX INC
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.