Nifty Watch:- Today Nifty opened at 5782. At the same time Nifty touched its day high at 5804 and then start moving down and touched it low at 5706 and finally closed at 5751 with a decline of 31 points to its day open.
Nifty breaks down its large trading range (5730-5900) but at the end Nifty came back in large trading range.
Trend:- Nifty is standing on its 200 days MA and trading up to its 50 days MA and still in trading range.
Level:- Looking for support at 5700. Resistance comes at 5900.
TA Insync (55-5) is in downtrend. It is moving down at -18.63. This suggests that Nifty may move down also.
Summary:- Nifty is trading at its 200 MA. It may possible that nifty find its support here and move up and it is also possible that nifty breaks down its 200 days MA and move down. But in both cases Nifty will trade in one direction and that will give the trading opportunity to the investors and traders.
Nifty print a pattern of NR 7 in monthly chart. This suggest that a big move may come in next month.
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