-SGX NIFTY IS SHOWING A DOWNTICK OF OF 60 POINTS -YESTERDAY NIFTY TESTED THE UPPER RANGE OF 10830 -I EXPECT THE INDEX TO TRADE WITHIN THE RANGE BUT WITH A UPSIDE BIAS -THE MORE TIME NIFTY SPENDS INSIDE THE RANGE THE STRONGER WILL BE THE BREKAOUT -BUT STILL WHAT WE HAVE ON NIFTY IS A RANGEBOUND MOVEMENT FROM 10690-10830 -THIS PRICE ACTION IS VISIBLE ON 30-MIN CHART -LIKE DISCUSSED BEFORE THAT NIFTY IS SEEING A EXHAUSTION AND IS LOOKING TO CONSOLIDATE -INDEX WILL RALLY ABOVE ITS 200-SMA ONLY -200-SMA IS PLACED AT 10880 -YESTERDAY IN THE INDEX INSIDE BAR PATTERN WAS VISIBLE -BREAKOUT IS ON THE CARDS TILL THEN RANGE IS VALID -CRUCIAL SUPPORT IS PLACED AT 10660 WHICH HAS PROVIDED SUPPORT -INTRADAY SUPPORT IS PLACED AT 10690 -"AVOID POSITIONAL TRADE" -WAIT FOR THE RANGE TO BREAK
NIFTY RESISTANCE FOR THE DAY 10810-10887-10950 NIFTY SUPPORT FOR THE DAY 10750-10720-10660
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