A long 🧵 on today’s fall…
Everyone was bullish at Top in #Nifty50 though no one noticed the daily candle closed in #BankNifty as it was Open=High, which is clearly a Bearish Candle Formation on 9th June same as #Nifty50 but it broke the previous day candle next 2 days repeatedly. At the same time #BankNifty keeps closing below day low of previous day candle.
Now the catch comes & kicks in which trap almost everyone.
#Nifty50 closed the daily candle on 11th June which is the culprit of this fall.
Open= 25134.15
Close =25141.40
When you see the daily candle you will find the same exact figure.
Now comes the hard part,
#Nifty50 actually opens that day in LTF at 25136.20 & closed at 25126.80.
So here it closed below the daily open makes bearish sentiment again.
Now comes the 25183 level
Still a mystery for me🤔
Now check the #BankNifty closing of 30th May
54800PE & 56800CE monthly expiry
One has to go up or down…
Check the drop & rise which completely make sense of this brutal move not at all sudden but was in the making since May monthly expiry itself.