NIFTY SPOT : 8389.9
Hi,
Readers,
Nifty is still
stuck in a small range. It tried to move out of this range but again went into
the range.
Now what :-
Nifty is with
the range of 8320 to 8408.
Breakout on either
side will give trading opportunity.
Nifty is
trading with bullish bias till it is holding 8320. Nifty is also making flag
like pattern on daily chart. If Nifty breaks out on up side then Nifty should
not take too much time to cross 8450-8470 if this breakout is real. However if even
after breaking the range on the up side Nifty takes time to cross 8450-8470
then one should be cautious. Because then Red Flags should be raised about the
strength of the breakout.
Till Nifty is
holding 8320 only trade available in the ring for Nifty is to search for long
side trades.
On the other
hand if Nifty breaks below 8320 then it will mean that Nifty is taking
resistance of 8430 is getting ready for correction.
No comments:
Post a Comment