Nifty Future chart July Series :
Perspective : This market is clearly balancing with short volatile moves last week in either direction failing to resolve the impasse.
Back Ground :- Larger bracket is seen between 5511 and 5675 with 5593 as the pivot for the week on closing basis.
Chart Speak :
– A normal distribution mostly within the value area of friday
– The lower volumes and lack of participation made it an “inside day”
– On an inside day we trade a break of value and range, as we wait for information that new activity wants to come and move the markets from current value.
– 5594 continues to be our reference point to the upside.
– 5547 would be watched on the downside.
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