As we discussed nifty, it was expiry yesterday and was most of a sideways move. For the new week, it has some resistance to the upside, such as 200 EMA and price-action resistance. Once it breaks to the upside, we will see a significant move to the upside.
Reasons:
Verdict:
Bullish
Plan of action:
Observe the 15 min trend and go with the bullish trend.
Reasons:
- NIFTY is showing nice demand near 19000. also 50 EMA support to downside. (Bullish)
- Price > EMA(13,50) also crossover successful. (Bullish)
- PCR = 0.82 (Mild Bullish)
- RSI crossing (40,60) ZONE to upside means entering bullish zone.
Verdict:
Bullish
Plan of action:
Observe the 15 min trend and go with the bullish trend.
don't go short unless it show some nice rejection from price action level