Last week saw the NIFTY make a range of close to 615 points and one could see strong buying interest near 17200 levels and absence of any buyer intention above 17560 zone. For today and the current week, if we work with the assumption of a range bound market, we may find trading at the boundaries expecting a reversal to be a successful strategy. The index can fall to lower levels if it continues to trade below 17600. On the other hand if the index starts trading above 17660 levels we can see the index climbing higher levels.
Important levels for the day and weekly expiry are given below
Bullish Above 17660
Possible Upside targets - 17740/17786/17810/17860/17910
Bearish Below 17588
Possible Downside targets - 17520/17480/17430/17380/17310/17260
Disclaimer
The analysis provided here is only for educational purposes. The author(s) do not assume any responsibility for the trades taken based on this analysis. Consult your financial advisor before initiating any trades.
Important levels for the day and weekly expiry are given below
Bullish Above 17660
Possible Upside targets - 17740/17786/17810/17860/17910
Bearish Below 17588
Possible Downside targets - 17520/17480/17430/17380/17310/17260
Disclaimer
The analysis provided here is only for educational purposes. The author(s) do not assume any responsibility for the trades taken based on this analysis. Consult your financial advisor before initiating any trades.