Why did Nifty crack down in the last hour today? Especially TaMo ?
1) As you must be knowing, Option Writers try to re-balance option prices to reduce premiums in both CEs and PEs - perticularly as the Wkly Expiry approaches near !
Plus there is already selling pressure from FII in last few days !
Anyways, as per my 30June2021 125m chart of BN, a dip towards trendline support around 34450 +/- or a double/tripple bottom around 33915 ,may give much better upside towards 35910 to 36380 plus !
Same for N also !
( View only for STUDY PURPOSE !)
2) It is better for TaMo to digest the fast rally due to JLR sales forecast. But most likely Auto stocks may rebounce again after Covid Lockdown issues subsides with Govt Economic Push in near future.
Not related to above, just for Info:
US Bond at 1.36 - at Feb Low !
WTI crude at $77 - after Nov-2014
May be time for Gold/Silver to move up !