NIFTY TRADE SETUP FOR THE WEEK

-SGX NIFTY IS SHOWING A GAP UP OF 90 POINTS
-THIS SHOWS A POSSIBLE OPEN NEAR 10700
-ON WEEKLY CHART NIFTY IS INDICATING A MOVE TOWARDS 10700-10950 RANGE
-AND IF THE MARKET SUSTAINS ABOVE 10700 THEN THE WE CAN LOOK TO TEST 10740
-A " BUY ON DIPS" RECOMMENDATION
-CRUCIAL SUPPORT AT NOW AT 10630
-SECOND CRUCIAL SUPPORT PLACED AT 10550
-INDEX IS LOOKING TO REASON TO RALLY EVERYTIME EXPLAINED EARILER ALSO
-INDEX ON 30-MIN TIME FRAME CREATED A MINOR RESISTANCE AT 10630
-WE CAN SEE SHORT COVERING ABOVE 10630
-NOW AFTER GAP-UP IT WILL BECOME A GOOD LEVEL TO RE-ENTER AND WILL ACT AS SUPPORT
-A CLOSE ABOVE 10750 TODAY WILL LEAD TO QUICK SHORT COVERING TO LEVELS OF 10820-10930
-WE HAVE CROSSED ABOVE WEEKLY 200-SMA ALSO
-BULLISH VIEW ON THE MARKET FOR THE WEEK

NIFTY RESISTANCE FOR THE DAY
10700-10740-10820
NIFTY SUPPORT FOR THE DAY
10630-10550-10515

!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!



READ OLD POST ON INDEX AND SEE HOW WE ARE POSITIONED IN THE INDEX

YELLOW LEVELS ARE CRUCIAL SUPPORT ZONES

YELLOW LEVELS ARE CRUCIAL SUPPORT ZONES