Plan of action:
Hold Previous positions or Create a neutral position for 19650-19700 Zone.
As we have been discussing the range for nifty whole week. Nifty is moving in the sideways zone in range 19650 – 19750.
today it’s also expected to do the same.
Reasons:
Having resistance of 200 EMA above side.
Major resistance Zone at above side.
PCR = 0.82 (Mild Bullish)
Accumalation phase is going on.
RSI is in 40-60 mostly indicate sideways momentum.
Verdict:
Sideways Accumalation Phase
Plan of action:
Hold Previous positions or Create a neutral position for 19650-19700 Zone.
Disclaimer:
The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.
Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.
The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.