Nifty consolidated in tight range of 15600-15960 from past one month approx, now its ready to breakout this range and move higher side.
Elliottwave Point of view, sideways double correction pattern done at recent low 15575. From there we witnessed Buying attraction in market.
Next level to watch on higher side is 15975 and 16070 zone.
As we entered into last week of Monthly expiry, I am expecting sharp moves on higher side once nifty able to surpass 16070 level.
IT and Banking and Finance sectors likely to support nifty to move higher.
Traders and Investors can initiate fresh long positions with stoploss below 15750 spot level.
Regards,
suryadev bandari
research analyst
Elliottwave Point of view, sideways double correction pattern done at recent low 15575. From there we witnessed Buying attraction in market.
Next level to watch on higher side is 15975 and 16070 zone.
As we entered into last week of Monthly expiry, I am expecting sharp moves on higher side once nifty able to surpass 16070 level.
IT and Banking and Finance sectors likely to support nifty to move higher.
Traders and Investors can initiate fresh long positions with stoploss below 15750 spot level.
Regards,
suryadev bandari
research analyst