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Nifty

Index is expected to remain oscillating within the constrained range of 15840-15250 with 15550 beingitsmidpoint. With RSI inclining towards its 50 zone & ADX still flat around 35 both are complimentingtowardsaneutral ranged action. A decisive break on either side would unlock directional momentumuntil thenexpectmean reversion play around the bounds. Hence its ideal to redeploy aggressive shorts once near theupperrangeof the range until 15840 resistance holds on a closing basis & review them once the index scales lower below15250. Pullbacks within the oscillating range are expected to remain fragile as occurrence of a reversal formationon its intraday scale would culminate into a blow off of the pullback rally

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