Half Hourly Chart
- The Nifty was range bound making a marginal lower high and low on incresing volumes.
- The wide range since 17th Feb of 4930-4805 needs to be broken to give direction to the market.
- Oscillators still neutral.
- 20 dema resistance respected.
- Uptrendline from 4675 held.
A break above 4885 will lead to test of 4930-4951 and a break below 4833 will lead to a test of 4805-4785. Follow up buying or selling beyond these levels will give a 100 point move whichever way the market breaks out.
Strategy of holding hedged longs with a stop of 4772 continues.
Happy Trading !!