As you can see Nifty is moving in a range.
In previous idea I showed how to trade range ( Link attached )
If you look at line chart of nifty from all time high nifty use to make lower low on line chart.
Since later march nifty has not made a new low on line chart, Thus moving in range.
In fact Nifty made a high Low as marked on chart. This makes my view sightly bullish on Nifty.
Nifty is also trading above short term moving averages now. I have show 20 MA with line.
You can confirm with other short term moving averages also.
14700-14500 will be support levels now, As long as it sustains above these levels view remains positive
Below 14320-14250 view will be negative.
In broader markets Mid cap & Small Cap indices are either giving breakout or trading near to all time high.
This Show bullish bias overall.
Check
CNXMIDCAP
Check
CNXSMALLCAP
Taking a Break as of now will back after few weeks.
Take care. Stay safe. Keep Growing
In previous idea I showed how to trade range ( Link attached )
If you look at line chart of nifty from all time high nifty use to make lower low on line chart.
Since later march nifty has not made a new low on line chart, Thus moving in range.
In fact Nifty made a high Low as marked on chart. This makes my view sightly bullish on Nifty.
Nifty is also trading above short term moving averages now. I have show 20 MA with line.
You can confirm with other short term moving averages also.
14700-14500 will be support levels now, As long as it sustains above these levels view remains positive
Below 14320-14250 view will be negative.
In broader markets Mid cap & Small Cap indices are either giving breakout or trading near to all time high.
This Show bullish bias overall.
Check
CNXMIDCAP
Check
CNXSMALLCAP
Taking a Break as of now will back after few weeks.
Take care. Stay safe. Keep Growing
