IGI Logo

Nifty

Proximity towards the lower end of the ongoing channel (16060) would be critical for theweek. Failureto sustain above the same could open up further trajectory towards 15850 immediately whilepullbackifany could find firm resistance around its 200 DEMA zone of 16720 followed by 17000. Bothtrendstrength indicators warrant further weakness as RSI is yet to hit its oversold zone whileADXisgettingstronger as it moves towards 40 mark. With the volatility index range still rising its ideal todelayinvesting prepositions by a few weeks until the storm settles down. Strategy for traderstoremaincautious on pullbacks & continue to retain their mean reversion trading approach throughoutthefirstfew weeks of this series as the range shifts lower

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