DrunkenTrader View : Will BNF Sustain the Support ?
Today BNF is more n Selling side however it's in crucial point of Support.
Following are reason for reversal.
1. There is multiple divergence spotted on previous candle.
2. last one hour was decision point to make 33400 as support or resistance. closer of market made the 33400 as support.
Reason for Bearish continuation almost 150 Indicators optimized for Trend score is 96 % in 30M TF is on bearish side.
There is three possibilities.
1. Gap UP opening and bearish for first half and take support again at 33400 and turn to bullish and reach Demand zone of 34000.
2. Sideways during first half and buying pressure will build to get the trend change and reach Demand zone of 34000.
3. Continue bearish path for blood bath.
My view : There is higher possibility to get the market in uptrend as per my view as SGX nifty is up by 0.4%.
Have a safe trade.
Following are reason for reversal.
1. There is multiple divergence spotted on previous candle.
2. last one hour was decision point to make 33400 as support or resistance. closer of market made the 33400 as support.
Reason for Bearish continuation almost 150 Indicators optimized for Trend score is 96 % in 30M TF is on bearish side.
There is three possibilities.
1. Gap UP opening and bearish for first half and take support again at 33400 and turn to bullish and reach Demand zone of 34000.
2. Sideways during first half and buying pressure will build to get the trend change and reach Demand zone of 34000.
3. Continue bearish path for blood bath.
My view : There is higher possibility to get the market in uptrend as per my view as SGX nifty is up by 0.4%.
Have a safe trade.