Nifty 50 Bears are Trying Again! See This Chart!

  • Market Overview

Alright, so we have had an excellent short-term uptrend in Nifty 50 , since the beginning of October. So far, index prices have rallied from the bottom of 16800 and are now trading around 18250. Due to the gloomy market sentiment, bears and short sellers tried multiple times to reverse the Nifty, but couldn’t succeed! We can see the traces of failed selling pressure and trapped short sellers clearly on the chart. Take a look at the Price Action Analysis in the 2h timeframe.

Nifty 50 – Price Action Trading Analysis on 2H Timeframe
Nifty 50 Price Action – Overbought market, Sellers trying again

All the bears who tried to short the Nifty have clearly lost the game so far. The selling pressure could not sustain in the Index. Will that change in the coming days? As we can notice some cracks in the Uptrend. We can see some signs of an over-extended trend and overbought market conditions.

Another interesting point is that the Bears are once again trying to push prices lower. See the last few Bearish candles – It indicates good selling pressure. Will the Bears succeed this time? Or will they get trapped as usual? Let me know your thoughts and feedback in the comments. To learn more about market traps and trading traps, check out the video given below. Keep an eye on the Price Action in 2h Chart and trade accordingly.

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  • Vaibhav @Vaibhav
    today newsnifty will go bullbanknifty will go for bear (24.11.2022)
    Like 0
  • Ujwal Tale @Ujwal Tale
    Yes, but last 30 min suggests bear trap. All ce holders kicked out and high probable gap up and short covering day tomorrow.
    Like 1
  • Badribalaji P @Badribalaji P
    Like 1
  • shivananda mahapatra @shivananda mahapatra
    perfect analysis
    Like 1
  • dilli @dilli
    Today  target is 18400 above ,by tomorrow target 18500 above
    Like 3
  • Ashok Ghose @Ashok Ghose
    The market will crack
    Like 0
  • Rakesh Devada @Rakesh Devada
    18500 soon
    Like 0
  • Vutukuri Umakanth @Vutukuri Umakanth
    seeing the scenario some stocks only pushing index upother not much active
    Like 0
  • Siddharth Sibal @Siddharth Sibal
    It wont fall, 18500 is coming soon
    Like 2
  • Barun Mohan @Barun Mohan
    this time price will go down..lets see..
    Like 2

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