Sunday, 25 September 2016

Nifty Next Week

Looking at the price action, it seems like there is weakness in the bulls for Nifty because in last two weeks, it gave full gap ups twice but soon prices started trading at lower levels instead of going higher.  Also looking at the daily, there may have been a lower high made.

So next week since there is no sign of strength in bulls, prices may remain range bound and may test supports more often than resistances.  All probable resistances and supports have been marked on the chart.

As a range trader, to my advantage, all the established supports and resistances will offer good trading opportunities.  If support holds, look to buy and if resistance holds, look to sell.  If the level gets broken successfully, look to trade in the direction of break out.

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