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Nifty

Nifty regained its strength after a pause of 2 trading sessions as it continued to scale higher towards 19560 zone. Thegapsequence has indicated a critical support near 19220 which should be considered a level for gauging any formof distortioninongoing bullish trend. With both its trend strength indicators trending higher complimenting the ongoing uptrend; its RSI enteringits overbought zone could not be ignored. Hence traders should retain longs with an acceptable stop loss &only addfurtheroncethe breakout above 19560 is set for an extended target towards 19740. On the absolute price scale, we believe that theongoingmove would only dissolve below the support base at 19220 which should be considered as a stop loss level for the ongoingtrendwhile momentum traders could trail their stop loss level higher towards 19390

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