Nifty Futures is continuing its uptrend and approximately made 4% in the last 6 trading sessions. Immediate supports are coming around 10910 levels. Price sustaining below 10910 levels could bring a short-term downtrend towards Friday low i.e 10857 levels. Currently, quick flip uptrend on 5min charts is almost more than 1800 trading minutes old which is an outlier going by historical stats of quick flip holding period
Trading sentiment holding positive for the last 5 trading sessions. Since RBI policy announcement is lined up. No major move trend reversal is expected in a very short term immediately. Possibly market could be in a range bound between 10800 – 10950 range.
Related Readings and Observations
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