Hello, above is the explanation based on which I said 20200 is a crucial level. Nifty has respected and fallen down but falls with a gap down. In normal conditions, this kind of setup indicates a short-term top.
So the question is what next?
For today, have a watch on 19830 as support and it is looking to see another gap down as indicated by SGXNIfty. My point is simple either it will try to revive from 19830 or it will fall by another 100 points. Bulls and investors should be careful at this kind of level. At least, do not add fresh stock here.
Today is derivative expiry so you can expect lots of noise on chart. For more update, follow me on my twitter account.
