Nifty is trading inside the range 19800-19300 in last 5 session
More precisely at the middle of the range within 200+ range from 19400-19600+
Nifty should move to either of the range boundaries 19800 or 19300, either for a breakout or reversal
So far to move on the down side, last 5 trading sessions created many support levels which may not give opportunity for a free fall
Supports ranging from 19400 to 19550, Only a big gap down can give momentum on downside or else will be a choppy market
Contrary to this, on the upside there are no hurdle for Nifty to reach 19760/800 levels, once 19650 is crossed it can go up straight another 100/150 points
So in the case of flat or small gap up, long trade is likely to give good returns
For down side momentum need a gap down below 19400 and need follow through for big targets once 19300 is taken out
More precisely at the middle of the range within 200+ range from 19400-19600+
Nifty should move to either of the range boundaries 19800 or 19300, either for a breakout or reversal
So far to move on the down side, last 5 trading sessions created many support levels which may not give opportunity for a free fall
Supports ranging from 19400 to 19550, Only a big gap down can give momentum on downside or else will be a choppy market
Contrary to this, on the upside there are no hurdle for Nifty to reach 19760/800 levels, once 19650 is crossed it can go up straight another 100/150 points
So in the case of flat or small gap up, long trade is likely to give good returns
For down side momentum need a gap down below 19400 and need follow through for big targets once 19300 is taken out
Trade chiuso: obiettivo raggiunto:
Choppy day in Nifty but targets are met 19425!
What comes next will see on Monday
What comes next will see on Monday