Nifty is stuck between a strong resistance and support from March beginining.
Neither it is breaking the support or resistance and hence their is no clear direction of Nifty at present.
Whichever side Nifty breaks it will give us minimum of 500 points of rally.
Global cues are supporting Nifty due to which it is opening higher but sustainance is an issue with Nifty .
As informed in my previous post investors not showing confidence in Nifty above 15000 and hence it is struggling to stay strong above it.
It might get changed in coming week due to good global cues and investors might again support Nifty to rally more higher.
Until and unless the major support is not broken Nifty is good to rally higher.
If support is broken you know the targets.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
Expect Nifty to reverse its trend from here for coming days.