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Rangebreak

Range Bound Breakout expected at 2184NSE:VINATIORGA Structure : Range bound What is range bound market? Whenever a stock or index is trading between support and resistance it is called Range bound. There is no strong move in either direction. Prices tend to ping back and forth near old highs and then fall to prior lows. The range-bound movement usually occurs at the end of a large move as the bulls and the bears fight over the direction of the next move. Generally breakout occur at the previous direction of the underlying. Range Bound Level : 1770 to 2130 Range bound levels are clearly drawn in the chart as support and Resistance. Break out level : 2184 CMP : 2170 Advance Buy Order @ >= 2185 Reason : Range Breakout at 2185 Long Term Target: 2540 - 2560 + + + Short Term Target : 2300 - 2400 - 2500 - 2540 + + + Note: BUY only > = 2185. CMP 2170
NSE:VINATIORGALong
by FalgunPrajapatiTrading
Nifty Range Breakout/Breakdown Expected.Nifty is stuck in a range since 18 March 20. On 8th March tried to break the range on upside but the attempt was rejected. Within next 2 sessions Nifty touched the lower end. Lower end is also the lower range of the gap that was created during the budget move After 12th March Nifty took support on lower end. of the range. If you observe it took 3 sessions to absorb the selling on 12th March . Nifty made a Lower High as marked on chart. Yesterday there was a good gap up opening, but it didn't sustained and Nifty reached the lower end of the range. This makes my view slightly on bearish side, but will wait for the Range Breakout/Breakdown. When there is range breakout usually big moves occur. Check Attached links for references If Nifty Breaks down there is no immediate support in between till the indecision zone marked. Bank Nifty has already reached the same indecision zone. Check the Chart Below
NSE:NIFTY
by varadtambolkar
5