Nifty Trade Setup for 14th June. 2022
Nifty 50 Index crashed 453 points on Monday amid a global sell-off triggered by fears that a fresh 40-year peak in US inflation will prompt Fed to hike interest rates more aggressively. The India VIX jumped 14.3 percent to settle at 22.4 on Monday, its biggest single-day jump in seven weeks.
Index once again could not hold onto the psychological levels of 16,000 and is on the verge of crucial support at 15,650-15,700 levels (Harmonic PRZ of XABCD). The index has almost retested the March 2022 low i.e. around 15,670 levels and its breakdown would pave the way for further decline towards 15,450 levels. In a matter of 7 trading sessions, the index has fallen nearly 1000 points, from the highs, in an impulsive down-move, and one should look for a pullback from around 16,000 levels for considering fresh short positions.
It is not easy to handle a Bear. Neither in the forests nor in the Markets. The market will be highly volatile, and Traders must look for a pinpoint entry for short positions. Moreover, the US Fed meeting on Wednesday would induce further volatility.
Index once again could not hold onto the psychological levels of 16,000 and is on the verge of crucial support at 15,650-15,700 levels (Harmonic PRZ of XABCD). The index has almost retested the March 2022 low i.e. around 15,670 levels and its breakdown would pave the way for further decline towards 15,450 levels. In a matter of 7 trading sessions, the index has fallen nearly 1000 points, from the highs, in an impulsive down-move, and one should look for a pullback from around 16,000 levels for considering fresh short positions.
It is not easy to handle a Bear. Neither in the forests nor in the Markets. The market will be highly volatile, and Traders must look for a pinpoint entry for short positions. Moreover, the US Fed meeting on Wednesday would induce further volatility.
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