NIFTY opened on a positive note and traded strongly in the positive side throughout the day. In the intraday chart the index made a triple bottom near 17150 levels and that could act as the strong support for the expiry. On the upside immediate resistance may come near 17260-17300 levels. Tomorrow being expiry day we may see volatility. However the broad range seem to be 17000 to 17260 for the weekly expiry. If in the open if the range mentioned is challenged by a gap down or gap up then it is wise to sit on the sidelines and wait for the market to stabilize. Otherwise trading near the boundaries once the boundaries are respected at least in 15 minute candle could prove to be profitable.
Important Levels are marked in the chart.
Disclaimer:
Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here
Important Levels are marked in the chart.
Disclaimer:
Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here
