IGI Logo

Nifty

Index remained confined within the immediate range of 17640-17880 as it registered a close within its previous dayrange.Occurrence of this ongoing ‘Series of Inside Bar’ formation with price enclosed within its 5 & 20 DEMA zone indicatesarange squeeze which could see a breakout from the range soon. Breakout above 17880 would lead the pullbacktowards18080 immediately but a case of a breakdown below 17640 would be lethal. The immediate range for oscillationstandsat18080-17640. With no clear reversal pattern formations on its daily nor weekly scale; which indicates that thepullbackcould remain temporary. Hence its ideal to deploy & adhere a mean reversion stance while deploying any freshlongshortpositions. Aggressive positions could be avoided until a confirm break of the range is evident on either side or onanoccurrence of a clear decisive reversal pattern formation with right characteristics is evident on its daily or weeklyscale

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer