Good morning friends,
I have already discussed about no support from 15000 to 14900. We saw things shaping in the same way. Well, 14900 is a support and so we can say that market has closed on support but it has changed the possible outcome on daily chart. I can able to see a rising wedge pattern under formation.
A rising wedge normally has out come as fall. So this formation is not in favour of bulls. I am still not bearish. I will look for trading support at 14880 and then at most import 14820. Charts are already explaining support.
Where is resistance as SGX NIFTY is up now? Key resistance lies in the range of 15000 to 15040. previous supports are resistance now. It will invite fresh bulls only above 15040 but that's too far now.
Above is only a view, improvise levels during trading hours.
Happy trading 😊
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