NIFTY
For the past one week NIFTY is directionless giving no indication of going upward or downward. Further it is trading in a very strict range of 5780-5920.i.e. in a range of 140 points. In this series, I feel NIFTY wont break down below 5750.
As per charts & moving averages, NIFTY's 200 DMA exists at 5740 so till 5740 there is every chance of bounce back to 5920. Below 5740, NIFTY looks weak and may touch 5690 its 100 DMA.
So best strategy would be to buy around 5780, 5750 levels and exit around 5880, 5920 levels.
For the past one week NIFTY is directionless giving no indication of going upward or downward. Further it is trading in a very strict range of 5780-5920.i.e. in a range of 140 points. In this series, I feel NIFTY wont break down below 5750.
As per charts & moving averages, NIFTY's 200 DMA exists at 5740 so till 5740 there is every chance of bounce back to 5920. Below 5740, NIFTY looks weak and may touch 5690 its 100 DMA.
So best strategy would be to buy around 5780, 5750 levels and exit around 5880, 5920 levels.
