NIFTY 22 JULY 2021: We can expect a traditional bounce from support of 15600 support zone. 15800 may be on hunt again.

 

Good Morning Friends,

Nifty hit a low around 15578 in the last trading session and then we saw some revival. That revival was a point to add long. I have already anticipated for the support around 15600. 

I am still repeating as long as Nifty is above 15600 there is no point to get panic from trend. It may not be better to name as trend. Nifty stuck in a range and taking swings only in the zone of 15600 to 15900 levels. 

It may not be easy to predict the time for breakout but swing may be easy to trade. Simple strategy is to short around 15900 and to add long around 15600. Risk management must be followed in every trade. 

I am expecting a bounce today. I have a disclosure that I have some long trade from past session from levels around 15600. 

Happy trading, 

Praveen Kumar