Nifty Half Hourly Chart
Nifty Daily ChartYesterday we had an Inside Day and were hoping for a breakout from that range. But today's candle too remained withing the range of 4509-4167. The half hourly shows a consolidation/distribution pattern. The support of the consolidation pattern is at 4210-4191 and resistance is at 4308-4278.
The price action shows more probability of a downside break. Trading below today's low of 4200 wll find supports at 4167-4135-4042.
Stop Loss for speculative longs should be at 4042 as break could precipitate a fall to 3700 which would provide good support.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
1 comment:
madam,
If I want to take position in next month options, which are the best strikes of nifty call and put and at which level of nifty?
Would you please guide?
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