Nifty: Range Breakout to set Directional Clarity

Nifty Analysis: 30 September'20

On the daily charts the index has created an Inside Bar. Last two trading sessions clearly suggests a consolidation post the recent 2-day sharp bounce back.
The index is essentially tired and buying time before the next directional move.
11,200-11,300 is the obvious short term range for the index, which it needs to clear to set the next swing move.
11,300 is a relatively stronger resistance which has the confluence of erstwhile lows and the 61.8% Fibonacci Retracement.
Ripe time for breakout traders to take action beyond the above-mentioned range and yes, a breakout failure will definitely lead to a significant trend on the either direction.

Trade Well. Trade Wise.