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Nifty Price action – Stalemate between Bulls and Bears

Nifty Price action is becoming more random and hard to predict in recent days, primarily it has to do with Geopolitical jittery and Investor sentiment. It’s a bit hard to understand the current structure and scenario without referring the charts. Here’s the recent Price action of Nifty 50 on Daily chart.

Nifty Price Action Analysis on EOD chart

Nifty Price action shows a stalemate between bulls and bears

After testing all-time highs at 11000 in the month of Feb, Prices witnessed a sharp downswing indicating a strong selling pressure in the market. This downswing acted as a primary cataclysm and changed both market structure as well as sentiment. Later Prices briefly consolidated and got struck between tight boundaries of 10200 – 10500.

Then in the beginning of March, Nifty continued its downward Journey. At first glance it seems like prices are falling, but a closer examination show both bulls and bears engaged in a constant battle to take dominance over market sentiment. After market prices crossed 10500, we saw sharp fluctuations on both sides. We can refer to these conditions as “Stalemate”

Current scenario is causing high level of uncertainty for Market participants whose decisions are leading to increased volatility in Price action. Along with that, Fundamental issues such as trade wars, diplomacy and US Policies are influencing the Market sentiment. It’s better to wait for some clarity in Price action before taking any trades in Nifty and do trading only when there is key setup with high risk – reward.

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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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