Nifty 50

Nifty is rejecting from the falling trendline & also from previous large candle's 50% where we saw a strong sell off (Active sellers at 23800-850, where we had rejection yesterday)

We nearly had three rejections above 200 MA on 75 minutes, initial we had a selling setup of double top, other two were immediate rejections. No doubt we are above 200 MA, its important to watch how the setup is forming. Is it again a selling setup in formation or we are just having retracement.

The Open = High concept is a simple yet effective intraday trading strategy based on price action. It helps traders identify potential bearish trends at the beginning of the trading session.

What is Open = High?

• If the opening price of a stock or index is the same as the highest price of the day, it indicates selling pressure.
• This suggests that buyers were not strong enough to push the price above the opening level, and sellers took control right from the start.
• Traders consider this as a bearish signal and may look for short-selling opportunities.

If you can notice last 2 days after a rally we have back to back open = high days which is also indicating that 23800 is strong resistance.