IGI Logo

Nifty

Index continues to scale higher with no deterioration in its strength. Its trend strength indicators are placed in their respective overbought zone but none have any signs of divergence or weakness. Even on its price scale it has not displayed any signs of weakness or traces of exhaustion yet. A sustained breach above 17440 would trigger the next leg of momentum towards 17600 cluster for the month. Trading base now been elevated higher towards 17140 from 16980 which now could act as a trading stop for ongoing momentum longs. Pattern targets on the higher side remain intact around 17600 (Upper end of rising Channel) which remain valid until 16980 holds for the coming weeks ahead. Sector rotation remains the key for the sustenance of this ongoing trend strength which may continue to surprise throughout the series.

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