On the closing basis Nifty just lost 11 points but if we look at its high and low then it was one of the most volatile session we saw in the recent past.
Despite of good closing in US markets, Asian markets are trading in the red and SGX Nifty is also trading on a flat note.
Todays as well we expect no decisive movement in the market until there is some news development in negative or positive front.
Presently Nifty is trading within a range and Nifty is registering tops and bottom within a range.
Overall charts of Nifty suggests that Nifty is forming a shrinking triangle which also suggests range-bound movement in coming days.
These days Nifty is trading very close to important resistance and support levels.
Overall defined range for Nifty is 5168 and 5073. Until we see a breakout in either direction we are unable to see higher or lower levels.
Our advise to traders is to buy on dips at lower levels and sell on rise to maximize returns with strict SL.
Nifty Levels for Today
TREND DECIDING LEVEL (Pivot Point)
5114
Support
5090 - 5076 - 5061
Resistance
5139 - 5168 - 5189
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