Emotional selling prevailed during the Tuesday’s trading session intensifying in the last 1 hour of the trading session. Emotions are running high among the traders as intraday volatility in the market is at the extreme. Immediate resistance comes around 11342. Price opening higher and sustaining higher brings a potential trend reversal towards 11400 levels.
Nifty Futures Trading Sentiment
Nifty futures 4 hourly trading sentiment continues to be in the negative mode for the second day as well. Put writers are defending at 11200 levels and Call writers shifted their base to 11500 levels.
Nifty Futures Quick Flip
Quick flip continued in the short mode. However quick flip resistance dragged down to 11336. Anything above 11336 will turn the momentum selling bars to grey neutral bars. And possibly quick flip will trigger a buy if Nifty Futures stays above 11380 levels during the second half of the Wednesday’s trading session.
Emotional Days are often followed by quick trend reversal. Possibly one should monitor the spike base 11342 as a reference level for any positive sentiment getting built.