IGI Logo

Nifty

Nifty continues to move gradually upward but the occurrence of multiple narrow ranged bodies is asignoflackofconfidence. Though there is no sign of reversal yet nor its trend strength indicators are displaying anydivergencewith price. Breakdown from its ongoing sequence could lead to a pullback move towards 17520 (200DEMA)butamajor reversal is could unfold only on a weekly scale breakdown below 17540-17520 zone. For theweek17630would be a key support to track while upside moves may remain fragile & could succumb to breakout failures.It’sideal to remain cautious & focus on sector rotational moves for short term trading. Investors ontheotherhandshould continue to focus on relatively stronger sectors & stocks which did well during the last 4-6weekstoretaintheir relative price outperformance

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