What Happened in the Stock market this week, a summary of that
In today we will be talking about the summary of the whole week and the psychology of the price of nifty 50. where it can head now, we will be talking about that. Basically, in this post, we will be reviewing the whole movement of nifty and explaining it to you.
Now please look in the chart of nifty 50 we have drawn our basic view of that, first you please try to understand that on your own.
Now let us explain it to you, see the area we have drawn at the approx level of 14900. we have told you guys this in our previous post view of nifty and bank nifty, which you can read by clicking here.
So this area which has all circled area, they are indicating the sellers move and telling us that they are coming from there, this means that every time market will hit this area market will have face sellers here. Now if you see closely that from all the circled area sellers were really aggressive and got even more aggressive but on the latest touch in the seller's zone, they reacted pretty weak and buyers kind of took the price further. which shows a bit of strength of buyer and fading of sellers strength. This time sellers came but they could not push till the bottom buyers are resisting now. We have to closely watch here how sellers react from here and how buyers react from here. If buyers go up from here then they have one level at 15000 where they might face the problem going up and sellers will face the problem in the area where we have drawn the green line because that is the buying zone. So this was the overview of nifty.
Now if we just see the movement of this week only. The market opened with great seller move then buyers came and they are defending the bears now. So we can say that market is in a defensive state so keep the above-mentioned point in mind and happy trading, And guys always remember the market is very uncertain as single news can change the emotion and the market runs on the Emotion of people.
Disclaimer - This information that we are providing you is our personal opinion, we are not saying our opinion will be 100% true as the market is very uncertain, and we highly recommend you consider this knowledge from information and an educational perspective. Before making any decision regarding investing please first comprehend the logic.