Bullish + Bearish Zones of Nifty for next few weeks.

Nifty has been dancing around 200 EMA since Mid-April. There is some strong resistance above the 9300-9400 level. On the downside, there is no support for nifty except for a positive 50% Fibonacci level.

Nifty might only move out of range after may expiry. As it did in April. Volatility is low for now. If VIX stays below 36/38 nifty will be in a range of 300-500 points.
Nifty has some trend lines to cross before giving a big down move.

On the upside 200 EMA & red line is the resistance.


Trade carefully.