IGI Logo

Nifty

Yet another occurrence of a reversal formation viz ‘Bullish Harami’ near the lower end of the ongoing declining channel formation is a sign of continued demand occurring near its support zone. Until now there have been no traces of an Impulse formation on its absolute price scale.

With most oscillators flattening, the ongoing oscillation within the range may continue until the index witnesses a firm breakout above 14800 with a follow through close above 15040. Technically, a decisive break above 15040 remains the main requisite for a firm directional momentum to unfold towards 15700. But until within range it’s ideal to retain low on leverage & maintain a mean reversion approach.

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