INTRADAY chart for Nifty 50
The Nifty has been consolidating within a range for the past four days, and with today's expiry, we can expect increased volatility. The following conditions apply:
Condition 1:
If the market opens with a gap up and holds above the 24,700 level, we can expect an upward move towards the 24,880-24,900 range.
However, if the market fails to maintain the 24,700 level after the gap-up, it may slide downwards.
Condition 2:
If the market breaks down in the first half of the session and we see buying support around the 24,500 zone, this will be an ideal level to enter long positions.
Condition 1:
If the market opens with a gap up and holds above the 24,700 level, we can expect an upward move towards the 24,880-24,900 range.
However, if the market fails to maintain the 24,700 level after the gap-up, it may slide downwards.
Condition 2:
If the market breaks down in the first half of the session and we see buying support around the 24,500 zone, this will be an ideal level to enter long positions.
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