NIFTY UPDATE

Last 2 weeks has been Incredible for Markets. On NIFTY we saw levels of 17639 on upside and 16410 on downside. Earlier in the month I mentioned why both weeks were Importamt on Time Front. But now when both weeks are behind us it’s time for Markets to relax a bit at least for a week. Market has to consolidate before making next move. The best approach to Trade this Market would be to take short term View. Don’t put Yourself in a Tough Position as a Trader. Need to eliminate the thinking of a Bottom or a Top. There is a process of Conformation which takes time to complete. NIFTY have a real challenges on Higher side. The zone of 17230 to 17450 have multiple rejection points. Until this zone is not crossed the broad structure won’t turn positive. On downside strong support is placed at 16780 which if breaks, can drag the Index till 16625 and 16415 on Spot. Monday is the only Vibration Date we have this week. If NIFTY manages to protect its supports then we shall end this Year on a good note.