Here is my Trade plan for tomorrow: As if now SGX NIFTY shows GAP DOWN OPENING
Condition 1: Support would be 16460 & Pending GAP is @ 16440. Market is likely to refill this gap by tomorrow following with 16366 & 16204 (Pending Gaps).
Note: If by any chance we see huge gap down-opening then definitely Short covering will happen. Need to wait first 15 minute check Open Interest & Volume & take trade accordingly. Still market is bearish so don't go long with big quantity.
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