Nifty Oct series finally expired today, on a low note. On intraday charts, Nifty Oct opened gap down. Prices moved higher, until resistance and supply was found at the high of the day. The bulls' excursion upward was halted and prices ended the day below the open. Were the bulls testing the powers of the bears only to fight them out tomorrow?
A doji on the daily charts followed by an inverted hammer. Is it an indicator of a reversal? The confirmation of the downtrend being in trouble will only come when todays high which is 4826.55, is breached and sustained. Till then, the fate of the warring bears and bulls is not known...
Indeed, it is Ajab Nifty ki Gazab Kahani .... Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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