Whats Next in Nifty after biggest fall.

NIFTY

#NIFTY50 DAY Chart Analysis for 05- JUNE-24.

📰BJP is unable to form a stable clear majority government, so there will be an impact on markets 📰
👉Perfect Handling of markets before elections and Glitch in CDSL it was so perfect and flawless, after that massive fall by 5.93%.

🔹View: Biggest fall seen yesterday and still it is not in a mood for V shap recovery. So lets analyse in detail.

TECHNICAL ANALYSIS

👉INDIA VIX :- 26.74 ( V. High )

👉PCR :- 0.52 ( Decreased)

🔹Structure :- 1 year range breakout on Monday became a 1 year gain erosion on Tuesday.
👉Price hit around 200 EMA after 7.5 months.

🌐GLOBAL:-DJI& Nasdaq close slightly bullish. 📰

🌐GIFTNIFTY:- 90 Points Plus.

👉OI:- Immediate resistance 22300 after that Heavy calls Written at 22500 followed by 22500 make a strong resistance for Nifty.

👉FII DII:- Both sold Heavily.

⚡️⚡️OUTLOOK:- will remain in range for some days if not fallen instantly below the mentioned zone on chart.

Detailed analysis on chart Study it and mark levels on your chart

Keep Learning,
Happy trading.