Nifty Trading In A Range of 190 points

Nifty the benchmark index opened gap down by 65 points on Wednesday at 10489. The index saw a profit booking done by the sellers after the market opened. As the index made a low of 10462 it went up till 10536 as it filled up the gap which was made by falling gap down. The index is current in last two trading sessions made a high of 10632 and a low of 10462, until an unless either of the levels are breached no action should be taken as long or short in the index. If we also see technically the index has the 50 SMA mark level at 10627 and 100 SMA mark at 10437 which shows that the index is in a trading range.

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