Nifty Hourly timeframe ended with an emotional extreme with fearful sentiment among the investors/traders as the Russia-Ukraine geopolitical tensions heated up. This very often makes market- participants to take emotionally impulsive bets in the direction of the crash.
Emotional traders are often considered as weaker hands as very often the market punishes them than markets reward them. Emotional traders are very often breakout traders chasing the trend and they are the very last person to get caught in the trend when the trend itself turns.
When the markets are not favoring the emotional traders and they have no choice but forced to cover their shorts at losses.
What do you think will they cover their shorts?
