Possible trace back to POC of day before yesterday
On 15 min charts, Nifty seems to be showing sign of weakness and has spent some time below yesterday's POC and today's average traded value.
This indicates a sign of weakness for the next session, usually Monday openings are supposed to be positive, but I would expect a gap down here. IF sellers are not serious enough we might trace back to current levels within a same trading session but if they are, we might see breakdown below the acceptable traceback ranges and that might be alarming in a positional traders mind.
This indicates a sign of weakness for the next session, usually Monday openings are supposed to be positive, but I would expect a gap down here. IF sellers are not serious enough we might trace back to current levels within a same trading session but if they are, we might see breakdown below the acceptable traceback ranges and that might be alarming in a positional traders mind.
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Downward movement target hit, upward is pending now, lets see if we see this in upcoming session.