Nifty has given a good rally after retesting 18800, and is now approaching overhead resistances. With 50 EMA, 0.618 Level and around 19500, nifty seems to be at a congestion zone where it should consolidate for a couple of days.
FED chairman Powell is expected to speak twice this week and should provide with enough triggers for the market to decide the direction of movements.
Overall, this consolidation should be healthy to help in the next round of rally after the events this week.
FED chairman Powell is expected to speak twice this week and should provide with enough triggers for the market to decide the direction of movements.
Overall, this consolidation should be healthy to help in the next round of rally after the events this week.
Trade closed: target reached:
Nifty has consolidated for the last 3 days, and Powell's speech tonight should decide the direction of the next move. Closing my neutral view here, I expect a trending move soon.
