IDEA FOR NIFTY 50

I feel that the bulls are losing their strength which can be seen today on 16th July 24th because the pattern looks negative to me.



If you see, before the election result, the trend has touched a high while checking the Fib level.

And our market is overbought.

We may see a retracement towards 50 EMA

If the market falls today then the trend will change, 23980 is the first support, after that 23700 and then 23400.


And it is seen that stop loss hunting in options has increased a lot.

Safe Trade Traders

this is my view and analysis please trade your own risk and analysis.