Nifty Watch:- Today Nifty opened at 5898 and touches its high at 5907. After that Nifty move down and touches it’s low at 5806 and finally closed near to its day low at 5814 with a decrease of 84 points to its day open.
Nifty is trading in a small trading range from 5730 to 5950. A breakout or a breakdown at these levels will decide the next move of the nifty.
Trend:- Nifty is trading above to its 50 and 200 days MA. The short term trend is up.
TA Insync (55-5) is in downtrend. It is moving down at 27.03.This suggest that Nifty may move down also.
Level:- Looking for support at 5730. Resistance comes at 5950.
Summary:- As nifty trading in a range so traders (investors) should take day trade only and also look for the breakout or breakdown at 5950 and 5730. This will give a big buying opportunity.
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