My outlook of CNX500 (nifty 500)

7. Feb. 2022

Like we analyzed in the last post nifty 500 is seeing some selling and the candle range too was big, so now that we are entering demand zone marked, we will have to see how price reacts tomorrow, there are two things that can happen from here, if there is demand then nifty 500 will start rejecting lower price at the range marked and make a bullish candle tomorrow or the price can simply head lower to test 14450 level. Again we should keep a watch on the range of the candle if we see any buying happening at range ,it'll be bad if nifty 500 prints one more wide range red candle tomorrow. Also keep a watch on s&p 500 today, what happens today on s&p500 will affect our market tomorrow.

Happy trading :)