Disclaimer: These are my personal musings and only meant for entertainment, not as trading advise. To view the full chart, right click on the thumbnail and open in a new window.
Not much to add from yesterday’s post.
The Nifty continues in a trading range, as suggested yesterday. We have had three retests of the 3110 levels within two trading sessions. That alone, enhances the significance of the level. The supply zone has still not been penetrated. The safety of the supply zone is now keeping the bears in a comfort zone. It would disturb the bears only when the 3200 levels are swept aside convincingly.
We could, therefore, expect action only when this Great Wall is cleared to the upside.
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