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.