Markets Largely Caught in Range-Bound Activity

Hello Readers

The Nifty has shown a range bound momentum for past 3-4 trading session.

Source:- NSE India

The Nifty has caught between range of 6020 and 5980. To initiate fresh long or short postions we have wait to see the trend of the Nifty. As there not much of movemnt in the Nifty we expect the worts would be over there could be some short position bulit in market so you can see some pressure on Nifty around 5900 levels.

The Levels to be watched are :-
1. If Nifty has to move upside it has to cross decisively the level of 6020 and close above 6050 levels then we can conform an imediate uptrend that could take market to 6100-6200 levels.
2. If Nifty has to move down side main support is 5980 to 5880 if these range is breached then you can see a shrap fall of 200 points on Nifty.

As  the Nifty is showing sings of uncertainty the best thing to do on Nifty is to stay away form Nifty.

  

"Investor Focus On Business Performance; Speculator Focus On Price Performance"

Happy Investing

Thanks & Regrads

Dev Purohit