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Nifty | Probable Moves Ahead

NSE:NIFTY   Nifty 50 Index
NIFTY is trading in a range of 10830 to 10960. Unable to give weekly close out of this range. A Simple fibonacci concept can interpreted that until and unless it doesnt break 12098 ie (13% of previous swing), it will be treated as fake breakout. Hence short entry can be taken if it breaks below 10850. Long entry can be initiated if it breaks above 12098. Short target would be 11350-400 or more. Long target would be 12400-12800.

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