What does the Nifty have in store for us? It has been trading in a very tight range, though the FII's have sold off future longs and they have been adding shorts for now. The OI at 6200 has increased which essentially means we can see the cap there. The nifty has been pushed back from the top of the rising trend line, has been consolidating and moving sideways which could mean we can see a move very shortly.It has been also holding the 6050 level effectively.The PCR is now 0.99.We can see definite up move tomorrow if the nifty is able to cross the 6075 level on spot and hold or even go beyond, then we are on our way to 6110 plus level.
The bears are the uncertain variable and with the data coming out, any negative news will amplify the situation and bring down the house quickly.My view is that the nifty should be able to cross 6100 effectively and even touch 6120, then the bears would take control and bring down the index strongly.May even take it below the 6000 level a recovery from there would see new highs.
The bears are the uncertain variable and with the data coming out, any negative news will amplify the situation and bring down the house quickly.My view is that the nifty should be able to cross 6100 effectively and even touch 6120, then the bears would take control and bring down the index strongly.May even take it below the 6000 level a recovery from there would see new highs.