Good Morning Friends,
I am keeping analysis simple for the day. Nifty is again going to face resistance at 15850 to 15900 level. We are witnessing in great dip in price volatility. Charts are showing the contraction in price range. Usually this kind of price contraction is meaningful after a breakout.
This gave me a sense to watch out for the day. If Nifty gives any sign of weakness then we should prefer trading short. If there is a sign of breakout above 15900 then we will play for long. Well, for trading long, clear cut condition is that Nifty has to trade above 15900 confidently.
Be ready to trade in any direction.
Happy Trading
