Nifty Watch:- Today Nifty opened at 5884. At the same time Nifty touches its day high at 5892 and then start move down and touches it low at 5819 and finally closed at 5831 with a decline of 53 points to its day open.
Nifty remains in small range from 5800 to 5900. Trading in a range require a unique concept of buying at support and selling at resistance. They have a high accuracy rate when traded properly.
Trend:- Nifty is trading up to its 200 and 50 days MA.
Level:- Looking for support at 5800. Resistance comes at 5900.
TA Insync (55-5) is in downtrend. It is moving down at -10.95. This suggests that Nifty may move down also.
Summary:- There is no point in trading a range if it is not wide enough. I advice to wait for a breakout or a breakdown.
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