Nifty after the initial gallop will consolidate and would be flat, the last 90 mins were rangebound between 18667 & 18616. ADX must move over 25 to point toward a trending market. Also, price volume needs to move over its signal line else the index is expected rangebound. PIVOTS Levels
R3 18742.05
R2 18693.94
R1 18664.21
P 18616.1
S1 18567.99
S2 18538.26
S3 18490.15
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Trade closed: target reached
As mentioned as the ADX crossed 25 and is currently @ 26.46 levels, the index zoomed. Next resistance 18693.
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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.