Choppy Session For Nifty

Nifty

India’s benchmark Index Nifty opened gap down by 34 points at 10393 on Wednesday. The index in the 15 minutes of the trading session made a high of 10407 and could not sustain as it went on to make lower lows till 10336. The index was volatile throughout the day but then saw a sharp move from 10360 levels at the last hour of the day. Nifty then went up to make a high of 10420 which was the close for the previous day. According to our Strategic Technical Analysis Nifty in its daily time frame chart will have 10450 and 10490 as its major resistance levels for the next few trading sessions, and on the support side we have 10340 and 10360 where the index can take support. In coming days we could see an increase in volatility as the markets are consolidating between 10300 – 10600 levels.

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