NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. A trendline is broken to downside and selling presure was more to downside, by looking of the trend yesterday nify seems bearish for this week. Reason:
200 EMA Resistance (Good Resistance) (Bearish)
Price Action Resistance (Red Zone upside) (Bearish)
Yesterday Heavy selling presure
Price < (13,50) EMA (shows bearish)
PCR = 0.68 (mild Bearish), MAX Pain = 19100
RSI < 40 (Bearish)
Verdict: Bearish
Plan of action: as its expiry it might be sideways. so play based on levels
Catatan
Market seems to be in range of 19050 to 19150 today.
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