As you see in this chart, nifty50 is clearly respecting the parallel channel which start from the previous year march low.
In short it is consolidating in a close range of 15600-15900, breaking the upper side may elevates the price to 16500 levels.
Breaking the lower end of channel will bring down the price to 15500 levels, which act as a strong support as per the OI data of this month.
In short it is consolidating in a close range of 15600-15900, breaking the upper side may elevates the price to 16500 levels.
Breaking the lower end of channel will bring down the price to 15500 levels, which act as a strong support as per the OI data of this month.