#NIFTY UPDATE (W)
PRESENT RANGE IS 16580 - 17539
#BreakOut / #BreakDown of this range on WCB needed for further trending move on either side.
50 WMA - 17083 might act as support going forward. Below that 16580_16800 zone should be watched closely as its the #BreakOutRetestLevels. Failing to hold will push index towards 16245/15160_15295 zone.
On the flip side, hold above 17539 can again move up to test #DoubleTop - 18115 & hold above it can move to 18350 / 18500.
PRESENT RANGE IS 16580 - 17539
#BreakOut / #BreakDown of this range on WCB needed for further trending move on either side.
50 WMA - 17083 might act as support going forward. Below that 16580_16800 zone should be watched closely as its the #BreakOutRetestLevels. Failing to hold will push index towards 16245/15160_15295 zone.
On the flip side, hold above 17539 can again move up to test #DoubleTop - 18115 & hold above it can move to 18350 / 18500.
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