Closing Range - 19512/19735
Extended range - 19429/19818
Strong resistances of 20 & 50 DMA in 19623-19659. Unless there is a gap up, Nifty will struggle to go past 19660. For any meaningful upward movement, 19700 should go past on hourly chart. Volumes were decent Nifty formed a near Inverted hammer. Downside support is there at 19500 & 19430 for now. Be cautious in taking trades.
Avoid taking any trades till Nifty stabilizes.
Extended range - 19429/19818
Strong resistances of 20 & 50 DMA in 19623-19659. Unless there is a gap up, Nifty will struggle to go past 19660. For any meaningful upward movement, 19700 should go past on hourly chart. Volumes were decent Nifty formed a near Inverted hammer. Downside support is there at 19500 & 19430 for now. Be cautious in taking trades.
Avoid taking any trades till Nifty stabilizes.
Trade chiuso: obiettivo raggiunto:
Nifty closed within our range and remained sideways most of the time today as mentioned yesterday.