Technical view on NIFTY.
NIFTY to range 9500-10500 as per FII data. 10000 will be resistance/ support.
Technically, NIFTY is likely completing its consolidated Swing from 10,300 to 9550.
Current Trend change from bullish to bearish is at 8800.
Yesterday was an inside day with Low and high within Friday’s Low and High.
Any open above Resistance of 10,020 will help NIFTY move towards 10,120 and 10320 and 10500.
NIFTY needs to stay for a longer Period above 10020-10050 for this to happen.
If NIFTY fails to hold above or move above 10020, NIFTY can easily slide towards Yesterday’s low and beyond.
As India VIX is above 30, which means NIFTY can move ±30% in next one year, Investors should be cautious while investing. As VIX is already above 30, using Options to hedge your downside will be too costly affair.
I am Admin, Gale.in. I am into investing and trading for last 10 years. I love sharing my knowledge and to educate people. I write articles regarding stock market to enlighten people about stock market and also share stock ideas at Gale.in to ensure retail investors of decent profits. You can contact me at email@example.com for stock queries. Have a wonderful time at Gale.in.