nifty is showing downward bias and is likely to open gap-down around 19700.
Nifty had taken rejection from 50 EMA in 5 min time frame and this indicates continued weakness. 19677 would be a crucial support for Nifty. if this level is broken, we could see a fall up to 19600/558.
between 19700 and 19677 would be no trade zone for me. if nifty bounces from these levels, we could see 19750/820/890
the range for Monday is likely to be 19550-19900
I am not SEBI registered RA and this is my outlook on nifty. please do not see this as an invite to trade. please use your own due diligence before investing.
Nifty had taken rejection from 50 EMA in 5 min time frame and this indicates continued weakness. 19677 would be a crucial support for Nifty. if this level is broken, we could see a fall up to 19600/558.
between 19700 and 19677 would be no trade zone for me. if nifty bounces from these levels, we could see 19750/820/890
the range for Monday is likely to be 19550-19900
I am not SEBI registered RA and this is my outlook on nifty. please do not see this as an invite to trade. please use your own due diligence before investing.