nifty 50 levels

9. Feb. 2021

Todays analysis- Nifty gave a gap up opening above the resistance level. The first 15 min candle was a doji which indicated indecisiveness in nifty. The second candle is an inverted hammer candle(upper wick), which showed that sellers are present. But the third candle was again a rejection candle which had a lower wick, this showed that buyers are not going to let nifty go down. There was a really good fight at this level between buyers and sellers. But the 4th candle was bullish candle with rsi above 80. This confirmed that nifty will go up from this level. Nifty made all time high around 15253 levels. But the upside move of nifty was not very strong. There were no strong green candles and eventually nifty broke the trendline and started falling.

Tomorow- Nifty might give a flat opening tomorrow. I have marked the levels of nifty. According to the option chain data nifty has strong support at 15000 level and the next strong support of nifty is at 14500 levels. Lets see at what levels sgx nifty isat tomorrow in the morning. Dow jones is also trading flat as of now.