@tradershikha Keep strick stop loss. Conform long position at LL & short at HH. book profit immediate when you see big number. If you find trend reversal exist
RIL) and the Major Banking Sector components will provide the necessary directional cue. If the banking majors deliver robust net interest margins (NIMs) and RIL provides a strong operational beat, it will act as the perfect launchpad for a genuine, volume-backed reversal.
The 24,000 zone will be the ultimate battleground. If the index manages to base out and sustain at this level, we could see a sharp trend reversal later in the week.
โThe Catalyst: Q1 Corporate Earnings
ultimate direction post-correction will be dictated by fundamental triggers.
The Bear Case: On market opening this Monday, expect immediate profit booking and long unwinding to trigger. The index is highly likely to slide, testing psychological and structural support levels down to 24,000.
โThe Bull Defense.
Domestic breakout stands on shaky ground when juxtaposed with global cues. World markets are flashing deep red, locked in a definitive down-trend. With Wall Street and Asian peers showing systemic weakness, Nifty's decoupled surge looks unsustainable and ripe for mean reversion.
Nifty 50 staged a late-hour breakout in the previous session, but the price action smells of a fabricated, non-constructive move rather than genuine institutional buying. Volume distribution and market suggest this is a classic false breakout engineered to trap weak hands.