Wow! What a great day it was today.
Did you enjoy that great volatility today?
If yes then well done.
If not, then no issue, you surely have learned something from today’s market.
Let’s take a look what happened in the market today. –>
As you saw today, the market opened sideways. Which is a great sign of seller’s pressure in the market.
But did that pressure continue in the Indian Share Market?
Well not exactly. Because at first the market showed a great upside movement.
Which was enough to give some false breakouts and trap the noob traders.
After that, the market just came near to its opening price. By which we can understand that sellers are increasing in the market.
And this statement came to be true.
The market came down, went a little up, and then again came down and created a new day’s low.
If the market creates a day’s low. This means the market is highly bullish and we should take our trade accordingly.
Just look at the 15 min chart of Nifty.
It clearly shows us that market is making lower lows formation.
And plan your trade accordingly.
So what about Tomorrow–>
So according to the 15 min candle in NIfty, the market is making lower lows formation and the last candle was green.
This indicates that tomorrow can open a little up after some time it will go down.
The market can go down below today’s low.
And according to the 1-day timeframe in Nifty, The market can go towards 17300 easily, and then it will come down.
So please keep these above factors in mind and plan your trades accordingly.
Even if you face any problem in the market do let me know in the comments.
Till then see you.
Keep calm and keep learning.