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
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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
Excepted Range 10000 - 9700 levels