Thread by @TCymatics

Decoding Markets for Monday🧐

Where are we likely to open ?
Where are we likely to close ?

Lets Decode 😎

Thread 🧵(1/6)

@sahneydeepak @kuttrapali26 @KommawarSwapnil @price_trader_
#StockMarkets #Nifty

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2. Before Decode on Charts, lets decode the adx strenght levels of ADX and DMI's.

@kaushaldarshan_ @Himanshu2606 @Puretechnicals9
#ADX

3.
Where are we likely to open ??

Nifty Closed at highs on Friday at 18117
On ADX
Bulls were stronger : +DMI @ 32.22 (above 25)
Bears got weaker compartively: -DMI @ 16.88 (weaker but still above 15)

Bears are weaker compared to bulls but not weak enough to lose its strenght.

4. On the basis we might open higher as bulls closed strong on friday.
As diffrence between +DMI and -DMI is 15.34
(32.22 - 16.88)

@Amit_Gulecha @KiritManral

5. Where can we close ??

Renko DMI are still strong but Exhaustion indicators still indicate that demand is gradually exhausting where we might just consolidate after a high open & then bulls might lose control gradually
wherein bears could make use of that.

@DiscretePriti

6. Hence, we conclude that bulls might be in control on the open but as the time passes by, the bears will make the most on close 😇

@caniravkaria @equialpha
#stocks #market #nifty50 #NiftyBank

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