Published on 19/05/2017 8:56:38 AM | Source: Tradebulls Securities Pvt Ltd

Nifty loose firm momentum and tanks around 100 points from previous session`s close - Tradebulls Sec

Posted in Market Outlook | #Market Outlook #Tradebulls Securities Pvt Ltd


Nifty loose firm momentum and tanks around 100 points from previous session’s close. It tested support of upward sloping trend channel and closed near the same in the end. The trend strength indicator (RSI) came out of an overbought state now on the daily scale.A breach below 9400 could distort the firmness & hence could seen as a strong support area. Momentum traders should maintained as a trailing stop strategy for existing shorts.

 

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