Nifty as predicted has consolidated whole day and closed almost flat.
The markets are holding the level of 17000. Though, on the intraday basis the market broke the level but regained it quickly.
Nifty has given a fake out below the 17000 levels.
On 15 minute time frame, market took resistance from its 20 ema and closed just below the level.
Support :- 16990-17000, 16920, 16840
Resistance :- 17280, 17230, 17160
Today the market consolidated and a trending day can be there. If not tomorrow, the montly expiry will give nice movement.
Wait for a price action near the price levels before entering the markets.
The markets are holding the level of 17000. Though, on the intraday basis the market broke the level but regained it quickly.
Nifty has given a fake out below the 17000 levels.
On 15 minute time frame, market took resistance from its 20 ema and closed just below the level.
Support :- 16990-17000, 16920, 16840
Resistance :- 17280, 17230, 17160
Today the market consolidated and a trending day can be there. If not tomorrow, the montly expiry will give nice movement.
Wait for a price action near the price levels before entering the markets.
