What after nifty breakout now?
As per out last analysis nifty has breakout that falling wedge pattern. yesterday as it was expiry it was range bound in the range 19780-19830. today's momentum will decide which side nifty is going to move. so we have to keep our bias neutral.
Reason:
Verdict
As Biases are both side Its Neutral
Plan of Action:
wait for 15 min candle and then make positions as marked on the chart.
Reason:
- Sideways range bound moment whole day yesterday. (Neutral)
- nifty has given the breakout of falling wedge. ( Bullish)
- Option chain PCR = 1.01 (Bullish but its initial 1st day of week)
- RSI < 50 downtrend (Bearish)
- Price < EMA(13) (Bearis)
Verdict
As Biases are both side Its Neutral
Plan of Action:
wait for 15 min candle and then make positions as marked on the chart.
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