Nifty wait for 12780-13145 range for clatiry on direction.

NSE:NIFTY   Nifty 50 Index
Nifty is having a intermidiate support at 12780 based on a channer resistance line and a long term trend line , this is followed by another support at 12730 which is previous week low.

CCI is a reliable indicator to suggest intermidiate tops and bottoms, it is showing some kind of reversal on weekly, daily and four hour charts.

Puts spread utilising 12800-12500 can be considered with a stop loss of two daily closings above 13150.

Do consult your investment advisor before taking any position in financial markets.
Trade closed: stop reached