Today was an excellent day for “Bears”. No chance given to bulls to fight back !!

Bull – Bear Fight

As anticipated, Nifty fallen from the high of 10124 levels after giving gap down opening and took support at 9950 levels which was a fall of almost 157 points, Changing short term trend to negative.

let’s see after today’s closing, How charts looks like..

Weekly Chart..

Weekly Chart

Oops Candlestick Pattern not giving good signals for bulls as of now. Bearish Engulfing Candle at the top with RSI Negative Diversion. To see the next support levels let move towards the Daily Charts.

Daily Chart..

Daily Chart

On Daily Chart, Fibonacci support levels are at 9930-9874-9790.

Hourly Chart

Hourly Chart

Price took support at the trendline around 9950 levels. On Hourly time frame, It’s clearly visible that trend has completely changed from up to down, as last low was broken. So now its a sell on rise market.

We have booked 1 lot and holding another lot for monday with SL trail to 10010 levels.


Learning Here – RSI Negative Diversion / Candlestick Pattern (Bearish Engulfing)/ Dow Theory







I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.


2 responses to ““BULL OR BEAR – NIFTY””

  1. Sir ji, last two time when market crash due to north Korea thread , market bounce back within couple of day,
    Not to worry ,. Relax , enjoy weekend
    Bulls are in action after today’s Nasdaq performance, Korea only barking dog ,
    As simple Europe is in green all day

    1. Siddharth Thapar Avatar
      Siddharth Thapar

      I trade the Charts not the news ! So no issues at all ! Cheers

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