IGI Logo

Nifty

Nifty continues to oscillate within the range of 14850-14300. The recent pullback within the range has witnessed fresh elevated base building action around 14500 & the same would be confirmed once the index breaks above 14850. On the broader note for unlocking the directional momentum play a sustained closing above 15040 remains a key breakout zone on its weekly scale. Technically a close above 14850 would result into a sharp short covering move while a move below 14500 from hereon may result into deterioration of ongoing upmove . Hence on a broader scale, a decisive break above 15040 would confirm the move towards the Channel pattern target towards 15400 followed by 15700 in the months to come. Strategy remains intact as the odds remain in favour of the investors, its ideal to retain the buy on declines strategy for investors & positional traders

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