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Nifty

Nifty surpassed the congestion zone around 18600-18680 zone which would now act as a key support forthebreakout move to sustain. Closure below the 18630 should now be utilized as a yardstick level toguageanypattern failure move.Its trend strength indicator ADX has been in conjunction with the ongoing bullishmoveasittrends well above its 31 level despite its other strength indicators (RSI) been placed within an overboughtzonearound 75.It’s ideal to retain positional longs with a trailing stop method until a clear change of trendorreversalis not established. 18360 is an ideal level to raise the positional stop level from 17880.On the broader scaleasindicated by the pattern its ideal to exit positions once a breakdown below 18360 is established. Sincetheindexhas hit the overbought zone ahead of the event heavy week its better to avoid leverage positions &retainlongshort combination as volatility is expected to maintain an upper hand throughout the December series.

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