Yesterday, I spotted stopping volume in 
NIFTY — and that’s a good sign.
Nifty gave a strong bounce by the end of the day, which shows buyers stepping in.
Though sellers' volume is still high — above 50 million — the price action looks encouraging.
Today, Nifty’s Pivot is at 24,657
Pivot Percentile is just 0.03%, which means we can expect a trendy move again — either up or down, depending on where it breaks.
Intraday Support: 24,588
Intraday Resistance: 24,733
If the resistance breaks and Nifty holds above it, we might see a strong bounce today.
BANKNIFTY also looks bounce-ready on the intraday chart.
But only if the support at 55,095 holds well.
Can clearly see stopping volume on the 15-minute chart, which is a positive signal.
Sector Watch:
Yesterday, I saw good movement in
NIFTY_IND_DEFENCE , CNXAUTO , and Fertilizer sectors. Keep an eye on them for short term trade opportunities.
Yesterday, I traded
FORCEMOT and it gave a move of 4%+.
Still holding the position.
That’s all for today.
Stick to your setup, follow your plan.
Take care and have a profitable day ahead!
NIFTY — and that’s a good sign.Nifty gave a strong bounce by the end of the day, which shows buyers stepping in.
Though sellers' volume is still high — above 50 million — the price action looks encouraging.
Today, Nifty’s Pivot is at 24,657
Pivot Percentile is just 0.03%, which means we can expect a trendy move again — either up or down, depending on where it breaks.
Intraday Support: 24,588
Intraday Resistance: 24,733
If the resistance breaks and Nifty holds above it, we might see a strong bounce today.
BANKNIFTY also looks bounce-ready on the intraday chart.But only if the support at 55,095 holds well.
Can clearly see stopping volume on the 15-minute chart, which is a positive signal.
Sector Watch:
Yesterday, I saw good movement in
NIFTY_IND_DEFENCE , CNXAUTO , and Fertilizer sectors. Keep an eye on them for short term trade opportunities.Yesterday, I traded
FORCEMOT and it gave a move of 4%+.Still holding the position.
That’s all for today.
Stick to your setup, follow your plan.
Take care and have a profitable day ahead!
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.