Disclaimer: I am not a SEBI registered advisor. All views personal, published for validation only.
If NIFTY manages to close above the EMA 200 level of 17260 on the hourly chart, then move towards 17330 is possible. On the other hand, closing below the EMA 200 would indicate not enough momentum, and rangebound moves between 17150 and 17260 are expected. And as said earlier, a close below 17150 will take the price towards 17100 levels.
Wait and watch until the close of hourly candle.
If NIFTY manages to close above the EMA 200 level of 17260 on the hourly chart, then move towards 17330 is possible. On the other hand, closing below the EMA 200 would indicate not enough momentum, and rangebound moves between 17150 and 17260 are expected. And as said earlier, a close below 17150 will take the price towards 17100 levels.
Wait and watch until the close of hourly candle.
