Nifty Hourly chart Ranges Galore

6 thg 7, 2022

This is a hellish market to trade for directional index traders since past few weeks now. Views and opinions have to be revised frequently as Nifty has been forming one range after the another. However all this dull activity whether accumulation or consolidation is building cause for some good trend to develop in the market, just need to analyze price action and participate in those phases, taking help of some additional tools like OI analysis, keeping tab on news flow and global economic situation etc.

Have marked some key levels which are going to be important in the days to come. Always be on the lookout for wide range bars with high volumes to gather further clues about the market direction.
Also track Nifty wrt 50 MA and 200 MA.

Hope we see a trend develop soon!