Nifty has been moving back and forth the crucial level of 4444 and right now the range is getting tight between 4507 and 4409.
Any move above or below this level is going to set the immediate trend.
As of now, the pattern is extremely bearish and a breakout on the downside is expected any moment till 4240 levels and may be even beyond.
The implied volatility which expanded on monday has again been tamed yesterday. But that is almost at a point where it has to explode and that can come only on a breakout from the range and it looks like it will be on the downside.
Resistance levels : 4480, 4507, 4537
Support levels : 4432, 4409, 4359, 4302
Happy Trading
www.tripleint.com
No comments:
Post a Comment