NIFTY has failed to breach the 18200 levels on the lower side, and 18350 on the upper side. Confluence of supports at the 18220-18240 levels due to the fib and EMA 21 on hourly chart makes it difficult for NIFTY to breakdown below 18200. On the upper side, 18300 still acts as a strong resistance. For today, this looks to be the range. Breakout on either side with a sizable candle will give further direction. Until then, I would be cautious and deploy rangebound trade.
Disclaimer: I am not a SEBI registered investment advisor. All views published here are personal and for my own records. Do not use them for trading without risk appetite.
Disclaimer: I am not a SEBI registered investment advisor. All views published here are personal and for my own records. Do not use them for trading without risk appetite.
