Immediate NIFTY resistance is 11525 and 11580. It will be important to view NIFTY formations at these levels.
A bearish divergence is also observed on the 60 min chart.
At the lower end, 11120 will act as good support for this week unless there is a news of India - China border escalations which has alleviated in the recent past.
I expect NIFTY to consolidate in between below range.
Broad NIFTY Range - 11050 to 11900.
Appropriate option positions can be initiated near support or resistance levels.
A bearish divergence is also observed on the 60 min chart.
At the lower end, 11120 will act as good support for this week unless there is a news of India - China border escalations which has alleviated in the recent past.
I expect NIFTY to consolidate in between below range.
Broad NIFTY Range - 11050 to 11900.
Appropriate option positions can be initiated near support or resistance levels.
Trade active:
Nifty like to trade between 11700 and 11400 tomorrow before expiry.
Appropriate option positions can be initiated.
Appropriate option positions can be initiated.
Trade closed: target reached:
Range as expected.