Algokart

NIFTY back in trading range! Good opportunities ahead

NSE:NIFTY   Nifty 50 Index
Nifty - Technical Analysis:

-Nifty gapped up good today around 11400 and closed at 11378
-Nifty got back in trading range and not move on wither side is possible with a bullish bias

Market - Driving Factors:
-Gains in index heavyweights HDFC twins, Asian Paints and Axis Bank
-Bharti Airtel, ONGC , Tata Steel, HCL Tech and RIL were among the laggards. Of 30 Sensex shares 11 closed in the red.
-The broader markets continued to outperform the benchmark indices, with the midcap index rising half a percent and smallcap 1 percent.

Nifty - Outlook for Thursday, 20th August:
Nifty saw a good gap-up in the morning and sustained above the previous day close.Though it ended higher, the closing was lower than the opening tick so it formed a bearish candle on the daily chart . Traders should remain neutral and look for trends to form before making a decision

Comments

the major trend like has been broken already and got back inside the support even the flag pattern failed.
it is good to SELL
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Algokart ashoksamuel02
@ashoksamuel02, Nifty struggles to go above 11500 but still taking support from recent trendlines.We suggest to keep a bullish bias with probability of sideways movement.
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@Algokart, cool bro
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