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Nifty

‘Inside Bar’ post a Doji is with RSI trending near its overbought zone is an ideal scenario for range bound action to continue. For the week 16320 remains a key level to track for resumption of uptrend, a consecutive close above 16320 remain mandatory for gauging the strength towards 16530. Options data for the week denotes firm bounds been placed at 16300-16000, complementing the range bound mode. So far Nifty has witnessed some consolidation which could lead into a minor price corrective which could still be participated with a buy on declines strategy as the broad trend remains strong

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