A breakout from the ongoing consolidation squeeze could soon lead the index beyond 17700 during this week - Tradebulls Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/425f77102d42c4b8c1bc2800361728ea.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty
A breakout from the ongoing consolidation squeeze could soon lead the index beyond 17700 during this week. Despite being hovering within the overbought zone the index has no signs of deceleration of strength. Ideally the consolidation looks like a short term squeeze before the expansion & a possible continuation pattern / flag formation. Its trend strength indicators are placed in their respective overbought zone but none have any signs of divergence or weakness. Breach above 17500 option cluster would trigger the next leg of momentum towards 17840-17700 cluster for the month. Trading base has now been elevated higher towards 17170 from 16980 which now could act as a trading stop for momentum longs. Pattern targets on the higher side remains progressing higher towards 18000 (Upper end of rising Channel) which remain valid until 16930 holds for the coming weeks ahead. For the day base seems firm around 17450 while upside momentum could unlock above 17580 towards 17660. Option pain is placed at 17500 which is expected to move higher towards 17600 for the day.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.tradebulls.in/Static/Disclaimer.aspx
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hotel 5.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ChemicalS030124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Foodgrain 30.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hindustan Petroleum Corporation Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Advisory.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/DigitalData26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)