Good Morning friends,
Nifty saw a good dip yesterday in first half. It took support near 17280 with a pin point low at 17270 levels and then rebound. Now, Nifty is like to take a gap up opening as I can see SGX Nifty right now.
Well, I am firm on my view that Nifty is very near to come. It may here and there from current levels but I cannot able to point the levels yet.
Near to 17430, it may not be wise to trade long unless we get a strong to very strong breakout. Technical support will be at 17360-17350 levels after opening.
One must note down that key support is still at 17280-17270 levels. This can make market too volatile if it starts coming down from resistance which is likely to happen.
If my trading strategy of expecting weakness at high does not work then I may not opt to trade.
Lastly, it shouldn't be compulsion to trade daily.
Happy trading.
