(NIFTY FUTURE DAILY)
ATR for nifty is approaching the resistance area as seen in the above chart.
Near term stochastics are approaching multimonth support area.
These are early signs that we might see a range contraction in nifty,especially with expiry just around the corner.
4840 will act as strong resistance for nifty future tomorrow.
Reversal from this level will take nifty to 4796 and 4776.
Break and trade below 4750 will invite panic selling to 4730 and 4710.
Trading with volumes above 4840 will bring cheers to bulls and they will move nifty to 4865, 4885 and 4910.
NEXT : Counting the targets
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss
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