CAN NIFTY SUSTAIN ABOVE 15000 ? NIFTY-PREMARKET ANALYSIS 30/04/21
Reasons to Sustain above 15k.
1. India recorded the highest ever FII inflows of $37.6 billion in financial year 2021.
2. Amidst the COVID crisis India managed to obtain support from many countries.
3. The Overall Chart Pattern of Nifty remain strong on the upside.
Reasons that nifty can view a huge fall in upcoming week which would be around 14700.
1. Nifty50 failed to hold on to 15k mark.
2. Formed a Bearish Candle in 1 day timeframe.
3. Closing was lower than the open.
For Intraday wait until the market opens and we can follow the trend based on the market how the opens, Since the market was highly volatile and have reached the crucial moment of withstanding the resistance @ 15043.50
For positional traders can involve in Buy after it broke the resistance at 15043.50 and can involve in Sell if the market breaks the strong support at 14812.95
What do you think , will nifty be able to reach its highest target or might crumble back to 14700. Please comment your thoughts .
Reasons to Sustain above 15k.
1. India recorded the highest ever FII inflows of $37.6 billion in financial year 2021.
2. Amidst the COVID crisis India managed to obtain support from many countries.
3. The Overall Chart Pattern of Nifty remain strong on the upside.
Reasons that nifty can view a huge fall in upcoming week which would be around 14700.
1. Nifty50 failed to hold on to 15k mark.
2. Formed a Bearish Candle in 1 day timeframe.
3. Closing was lower than the open.
For Intraday wait until the market opens and we can follow the trend based on the market how the opens, Since the market was highly volatile and have reached the crucial moment of withstanding the resistance @ 15043.50
For positional traders can involve in Buy after it broke the resistance at 15043.50 and can involve in Sell if the market breaks the strong support at 14812.95
What do you think , will nifty be able to reach its highest target or might crumble back to 14700. Please comment your thoughts .
Prediction of crumbling to 14700s was right.
Technically since its a gap down , in intraday we can expect the trend to be bullish for the first session.