After 35 days of consolidation NIFTY finally broken out with decent volume. So, technically this bullishness may remain for some time now. But tomorrow is expiry day for current series...let’s have a look how NIFTY is positioned itself for tomorrow.
If we look at the chart, it is clearly visible that 5760-5780 is a zone of resistance and NIFTY may likely to get resisted there. A positive opening tomorrow may trigger nifty to higher level after consolidation in opening hour. But negative divergence may appear at higher level in short time frame chart which could be used to sell on intra-day basis as nifty is overbought in shorter timer frame.
So, tomorrow NIFTY will remain volatile and give two way trading opportunity. For expiry special NIFTY Call during market hours keep eyes on NIFTY PULSE page in Facebook.
Wish you happy trading.
If we look at the chart, it is clearly visible that 5760-5780 is a zone of resistance and NIFTY may likely to get resisted there. A positive opening tomorrow may trigger nifty to higher level after consolidation in opening hour. But negative divergence may appear at higher level in short time frame chart which could be used to sell on intra-day basis as nifty is overbought in shorter timer frame.
So, tomorrow NIFTY will remain volatile and give two way trading opportunity. For expiry special NIFTY Call during market hours keep eyes on NIFTY PULSE page in Facebook.
Wish you happy trading.
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ReplyDeleteRavindran
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