NIFTY TRADE SETUP

-SGX NIFTY IS WAS INDICATING A 70 POINT GAP-UP
-YESTERDAY THE INSIDE BAR BREAKOUT WAS ON THE DOWNSIDE
-WE SAW HEAVY SELLING BY THE INSTITUTIONAL INVESTORS
-TODAY AGAIN S&P 500 IS TRADING HIGH SO WE ARE LOOKING FOR A POSITIVE START
-WE MIGHT WITNESS SELLING PRESSURE AT HIGHER LEVELS
-YESTERADAY THE TRADING RANGE WAS BROKEN DOWN ON THE 30-MIN CHART
-SINCE THEN MARKET FELL TO 10560 AND TOOK SUPPORT AT 200-EMA ON 30-MIN CHART
-SINCE WE ALL REMEBER THAT 10550 WAS A CRUCIAL RESISTANCE TO BE BREAK NOW IT BECOMES A CRUCIAL SUPPORT
-ON THE UPSIDE 10830-850 BECOME CRUCIAL RESISTANCE TO BREAK
-OUR RISING WEDGE FORMATION IS STILL INTACT ON DAILY CHART
-CRUCIAL SUPPORT IS PLACED AT 10550-10510
-"SELL ON RISE MARKET FOR NOW " APPROACH FOR NIFTY


NIFTY RESISTANCE FOR THE DAY
10660-10720-10750
NIFTY SUPPORT FOR THE DAY
10570-10550-10510


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!