Nifty View: A disappointing close for benchmark Nifty index in today’s trading session - down over 100 points to close the recent gap with which it had broken above 15K. The index is now back to the zone of (14,900-15,000) which earlier had acted as a strong zone of resistance and now we are expecting support. If this 100-point range holds, then there is a big chance of a bounce back and significantly higher upsides for the index. On the flip side, a confirmed close below 14,900 and we are back within the range of consolidation which will be marred by sharp volatility. It's been a completely stock specific market over the past two trading sessions and so strategically one should look to trade high-probability setups with a short term time frame in mind.
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