IGI Logo

Nifty

Nifty has been holding well above its 5 DEMA support zone despite of the ongoing rise in volatility. Multiple Doji formations around the resistance zone of 17970 is a concern but the trend strength indicators are placed well for continued strength. ADX is now breaking above its 25 mark while RSI is still on its trending mode away from its overbought reading. The cluster resistance around 17620-17500 mark has now turned into a support base complimenting well with its option buildup. Strategy remains intact to keep buying with a stop below 17230 for positional swings while on-going momentum could be participated with a stop below 17620 on closing basis from hereon.

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