Mentorship InstaView 15 July’21: A New Life High … Now?


Nifty View: Benchmark Nifty index extends the underlying short term UP trend fine in today's session with a 70 points gain to post a new life high. Congratulations. Now the million-dollar question is whether it’ll be able to sustain at these highs or not. Well, keeping in mind the underlying momentum and sectoral participation, the probability of an extension of this up move is higher towards 16,000 and higher. But such a move can only shape up with intermediate short term corrections and in such cases over the next 2-3 trading sessions, the index should not break below 15,775. In case if it does, then that’ll imply a breakout failure and we should expect weakness. Till then keep a bullish bias and look for high momentum range breakouts.

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