Just two simple scenario's in Nifty , so the details in the chart repeats :
I see two scenario's or potential formation for long/short trade setups.
(i) If Market opens Gap Down, Nifty can find support in the zone below 8800's n bounce back
(ii) If Market moves up & gives reversal around 8880's we can enter short
( iii ) Breaking any of the will determine the direction I believe else another ranging day, which I don't expect it to be.
Just an info for traders,last week Gartleys target 2 around 8770's.
Happy Trading !