Short Update Nifty

📊Short Update📊

Market has reversed trend and it was clear and decisive from the mathematical pivot of 17670. Short covering started as soon as Nifty started sustaining for 10-15 mins above 17800 which led to a sudden bullish move. The hush hush that we talked about turned out to be partially true. Some call writers had stop losses at 17950 and some had changed positions after short covering to 18000 call. There was a sudden spike for few ticks when 17950 was crossed but they managed to hold nifty below that.

So as of now the reversal has started. How long it will continue or sustain that's a different question. 18000 is going to be a significant resistance. If that is broken on Tuesday, expect nifty to reach 18200 levels by this expiry.

Mind it expiry is on Wednesday.

Will update after pre market