Index remains confined within the broader range of pitchfork tools indicators range as it faces resistance again near 15900 zone - Tradebulls
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Nifty
Index remains confined within the broader range of pitchfork tools indicators range as it faces resistance again near 15900 zone. A breach only below 15630 on a sustained basis could push the index lower towards 15450 (Intermediate Support) while an up move could see resistance near 16040 for the week. As our outlook for the current expiry remains bullish, pullbacks if any shall be utilized to create long positions as the trend strength indicators rebounding from a meaningful support zone with RSI rebounding from 50 is a complimentary sign for the ongoing bullish trend to continue. So expect the index to oscillate within the intermediate range of 16040- 15630 which is also a part of its broad range of 15400-16040 as indicated by the pitchfork tool.
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