Nifty Futures trading sentiment turned negative one day before Dec 2019 expiry. Though lower volume persisted for the last three trading sessions with not much aggressive participants before the holiday season to begin.
Traders on Wednesday press lower during the second half of the trading session with a late mini spike with immediate resistance around 12245 levels with G2 Low levels.
A negative sentiment with G2 Low levels is a deadly combination for the Thursday expiry which has greater odds of violent expiry.
On the downside still 12150 – p shape balance is acting as a potential support band. Nifty Futures had developed a 3-day balance with short term balancing so far. Price activity developing down below 12245 levels turns the short term trend to downtrends.