Nifty has fair chances of moving up as long as 11416 holds.
Nifty has an immediate support zone at 11500 -11490, followed by 11469 and 11423 levels.
Please remember to protect your leveraged long positions with a stop loss at 11423.
Bulls can feel comfortable only if 11548 and 11570 are breached on the upside, the zone between 11490 - 11570 is a no trade zone, keep patience.
Other short-term indicators are not showing any decisive pattern either, trade with caution.
We have seen a strong rally from sub 10700 levels to 11695, it may take some time consolidating here or drifting down to 10300 levels before moving up.
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Please remember to protect your leveraged long positions with a stop loss at 11423.
Bulls can feel comfortable only if 11548 and 11570 are breached on the upside, the zone between 11490 - 11570 is a no trade zone, keep patience.
Other short-term indicators are not showing any decisive pattern either, trade with caution.
We have seen a strong rally from sub 10700 levels to 11695, it may take some time consolidating here or drifting down to 10300 levels before moving up.
Please consider liking this chart, if you find it worthy. You may follow me for more of practical and simple updates on equity markets and billions.