We should know these things First..
Bulls started with excellent mark this morning & they exhausted all sales order as expected around 42300 to 42500 levels. Opening candle itself suggested it. The way Bulls were eating out all the orders, it was expected since yday noon that some sudden green tower may trigger large short covering. Bears were equally prepared it seems this time. They didn’t give up & were waiting like an eagle to attack right at the peak. 42600 level was the trigger point & today’s move clearly shows the way Bulls & Bears were fighting tight for 42500 level. Today at least, I may say that Bulls were able to protect the fort for 42500.
In the above chart I have used 5 min TF without any indicators to identify demand zones. It also indicates the treatment to every High & Low by big fishes. This is how they manage index & create a controlled environment so that Buyers do not get major win. Its a Seller’s Day & lets give to them. We would rather wait for another day after our daily target is done comfortably in morning moves! There is no point in loosing day’s profit on such day. Switch to any OTT App or enjoy with family / Friends instead!