A fresh upmove is likely on the Nifty only if we see 10,350-10,360 zone being taken out convincingly on the closing basis. This will also confirm an inverse head and shoulder pattern breakout on the hourly chart.


Nifty is currently going through a volatile phase. The index has already oscillated twice, hitting an intraday low of 10,309 and back to 10,350 levels, which is also acting as a stiff resistance zone.
A fresh upmove is likely only if we see 10,350-10,360 range is crossed convincingly on the closing basis. This will also confirm an inverse head and shoulder pattern breakout on the hourly chart. Projections of the same are indicating another 300 points upside for the Nifty post the bullish breakout.
Bank Nifty, on the other hand, continues to remain stuck in a narrow trading range.
A fresh breakout is on the cards if the 25,800 mark is broken on the closing basis, which would also confirm a channel pattern breakout on the hourly chart. Projections are suggesting that Bank Nifty is likely to once again hit fresh lifetime high post the bullish breakout.


Nifty is currently going through a volatile phase. The index has already oscillated twice, hitting an intraday low of 10,309 and back to 10,350 levels, which is also acting as a stiff resistance zone.
A fresh upmove is likely only if we see 10,350-10,360 range is crossed convincingly on the closing basis. This will also confirm an inverse head and shoulder pattern breakout on the hourly chart. Projections of the same are indicating another 300 points upside for the Nifty post the bullish breakout.
Bank Nifty, on the other hand, continues to remain stuck in a narrow trading range.
A fresh breakout is on the cards if the 25,800 mark is broken on the closing basis, which would also confirm a channel pattern breakout on the hourly chart. Projections are suggesting that Bank Nifty is likely to once again hit fresh lifetime high post the bullish breakout.
