-INDEX HAS MANAGED TO CROSS OVER 11240 -WHICH INDICATES THE MARKET HAS BROKEN OUT OF A 3-DAY INSIDE BAR TRADING RANGE -LAST TIME THIS EVENT HAPPEN WAS AT 9160 MARKET TRADING INSIDE A RANGE OF 9160-8820 AND AT 10755-10560 -BOTH THE TIME AFTER A BREAKOUT MARKET RALLIED FOR ATLEST 500 POINTS -11247 WAS A CRUCIAL LEVEL FOR THE INDEX IN FUTURES MARKET AND WE CONQUERED THAT -TARGET OF 11340-11410 HAVE BECOME LIVE NOW -A CROSS ABOVE THAT WILL ALLOW INDEX TO TEST 11500 -MARKET IS GETTING INTO OVERBROUGHT POSTIONS IN SMALLER TIME-FRAME -PLEASE NOTE THE TRADITIONAL WAY OF LOOKING AT RSI DOES NOT WORK I HAVE EXPLAINED ABOVE ALREADY ON WEEKLY SETUP -INTERESTING OBSERVATION DURING THIS PREVIOUS WEEK WAS INDEX IS TRADING INDEX THE BAR OF 22ND JULY -INDICATING SOONER OR LATER WE WILL HAVE A INSIDE BAR BREAKOUT -FINALLY IT DID BREAKOUT -OPEN INTEREST SETUP INDICATES BIGGER MOVE IN NIFTY FOR JULY EXPIRY -ONLY THING IS BANKNIFTY SHOULD PROVIDE SUPPORT FOR THE INDEX -CRUCIAL SUPPORT PLACED AT 11240 -CRUCIAL RESISTANCE IS PLACED AT 11400
NIFTY RESISTANCE FOR THE DAY 11342-11410-11525 NIFTY SUPPORT FOR THE DAY 11240-11125-11035
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!! !!TRADE ACCORDING TO YOUR RISK PROFILE!! !!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!! !!HAPPY TRADING!!
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