NIFTY INDEX TREND SETUP
-there is a bullish channel on a 30-min chart on nifty index
-which might be breached in the opening
-important thing is nifty is having support at 9720-9750
-that is the area from where we have seen strong bounce back
-it remains to be seen if nifty bounces back from this levels or not
-we have expiry today break i doubt that we might break below 9750 on closing basis
NIFTY TRADE SCENARIO
-avoid taking directional trade today as we have expiry
-market might again range between 9720-9950
-wait for a range break
NIFTY RESISTANCE FOR THE DAY
9880-9925-9960-9999
NIFTY SUPPORT FOR THE DAY
9750-9720-9680-9550
-there is a bullish channel on a 30-min chart on nifty index
-which might be breached in the opening
-important thing is nifty is having support at 9720-9750
-that is the area from where we have seen strong bounce back
-it remains to be seen if nifty bounces back from this levels or not
-we have expiry today break i doubt that we might break below 9750 on closing basis
NIFTY TRADE SCENARIO
-avoid taking directional trade today as we have expiry
-market might again range between 9720-9950
-wait for a range break
NIFTY RESISTANCE FOR THE DAY
9880-9925-9960-9999
NIFTY SUPPORT FOR THE DAY
9750-9720-9680-9550
Note
WE NEED A CLOSE ABOVE 9975 ON 30-MIN CHART TO SEE SOME SHORT-COVERING
IF NIFTY SUCCEEDS TO DO THAT
NEXT LEVELS TO BE TESTED :-10030-10090-10120-10160
Trade closed: target reached
1ST TARGET ACHIEVED 0F 10030Trade closed: target reached
SECOND TARGET HITNote
3RD TARGET HITTrade active
FRESH TRADE WAS GIVEN IN THE TELGRAM GROUP
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.