IGI Logo

Nifty

Breakout from the ongoing ‘Broadening’ formation occurred with a GAP ; this RunAway Gap could act as a keysupportforcontinuation of ongoing bullish momentum. Its trend strength indicators are now insync but RSI is entering thecautiouszone above 70 while ADX is about to break its 25 zone. The indicator setup is ideal for continuation of momentum&hencelongs could be reviewed once above 18200-18350 zone. Confident option writing around 17800 compliments theimmediate base to remain intact for the week & hence serves as an ideal level to trail stops belowthe sameat 17770. Broadmarket participation has been good & hence midcaps could see outperformance from hereon.

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