View: A volatile trading session for the benchmark Nifty
in today’s trade. The index did face some stiff resistance as it tried to hold above 15,150. A look at the 15min chart of the index and you will notice a clear band of supply at around (15,150-15,200). The index needs to take this zone out for confirmation of the fresh UP trend. On the downside, of course the psychological 15K level will continue to act as the immediate support. We have noticed a mixed performance from the sectoral indices and few large caps like RELIANCE had contributed heavily to the day’s gain. Keeping these skewness in mind, I sense that the intraday volatility
will stay and traders will get both long and short trading opportunities.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.