Short Market Report 21.03.22
CHART Red candle in both indices; steady down move
OC. 1700-17500; 35500-36500
PCR. bearish
FII. -2962
DII. 252
FnO Data short build up
RSI. 54; 40
ADX. 22; 22
Conviction bearish to neutral
Bias. bullish
Int. Markets red
TRADE sell 17500 CE and 36500 CE
Nifty reversed from the 50% fib retracement area which was discussed in previous market report and it comes around the 17300 area. FIIs are back into selling mode. If one speculator has to be believed, FIIs are planning to sell 3 lakh crores this year alone. They are already half way there. Not trying to create any panic here but sharing all the information I have at my disposal so tread cautiously, Some bulls are actively buying the 17500 CE. Only time can tell who would win this brutal fight.
Expecting a red candle tomorrow but keep in mind that the last hour showed some signs of consolidation. We had previously discussed in forum that bulls are averaging their positions.
I have linked the previous market report shared on 15th March where I had discussed about this probability of reversal.
OC. 1700-17500; 35500-36500
PCR. bearish
FII. -2962
DII. 252
FnO Data short build up
RSI. 54; 40
ADX. 22; 22
Conviction bearish to neutral
Bias. bullish
Int. Markets red
TRADE sell 17500 CE and 36500 CE
Nifty reversed from the 50% fib retracement area which was discussed in previous market report and it comes around the 17300 area. FIIs are back into selling mode. If one speculator has to be believed, FIIs are planning to sell 3 lakh crores this year alone. They are already half way there. Not trying to create any panic here but sharing all the information I have at my disposal so tread cautiously, Some bulls are actively buying the 17500 CE. Only time can tell who would win this brutal fight.
Expecting a red candle tomorrow but keep in mind that the last hour showed some signs of consolidation. We had previously discussed in forum that bulls are averaging their positions.
I have linked the previous market report shared on 15th March where I had discussed about this probability of reversal.
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