Today NIFTY opened positive above previous high of 5899 remained volatile throughout the day and closed just above 5900. There are certain observations which could lead us NIFTY's future course of journey.
It is highly possible that NIFTY may breakout in either side tomorrow.
A positive hourly close above today's high would take NIFTY towards 5960/5980 level and 6040 (blue channel resistance) subsequently.
On the other hand failing to clear today's high in first hour may result in lower levels of 5870/5830/5780. Day closing below 5830 may invite fresh selling in NIFTY in coming days.
Positional traders are suggested to trade as per NP-SAR level which is posted daily during opening bell.
To have a peek at what our subscriber got as part of our new positional call series, just have a look at Subscriber Section and the password for the same is "pulse" :)
Wish you happy trading !!
- 5911 is 76.40 retracement of the move from 6338 to 4531. Nifty failed to cross the level closing basis; although 5918 was today's high.
- From the chart, it is understandable that NIFTY is trading above the upper channel boundary (red), It is positive sign for NIFTY.
- For the past four days NIFTY moved in tight range making higher high-higher low formation.
It is highly possible that NIFTY may breakout in either side tomorrow.
A positive hourly close above today's high would take NIFTY towards 5960/5980 level and 6040 (blue channel resistance) subsequently.
On the other hand failing to clear today's high in first hour may result in lower levels of 5870/5830/5780. Day closing below 5830 may invite fresh selling in NIFTY in coming days.
Positional traders are suggested to trade as per NP-SAR level which is posted daily during opening bell.
To have a peek at what our subscriber got as part of our new positional call series, just have a look at Subscriber Section and the password for the same is "pulse" :)
Wish you happy trading !!
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