Monday trading session opened with a gap up with high buyers confidence and also it is a trend day in Nifty futures. Buyers confidence remains high until the end of the day. However short-term trading sentiment is getting extremely positive – sort of cautious signs of longs.
Last 4 sessions most of the trading activity happens in a tightly packed band between 11540 – 11600 zone which is an interesting reference zone. On Friday quick flip strategy enters into a shorting mode with resistance comes around 11573 levels which where the price is also closed exactly. The quick flip strategy could turn to buy mode if on Monday price opens and sustains above 11562 levels possibly it could target 11620 levels again and possibly higher..