NIFTY FUTURE WEEEKLY
Last week, Nifty Future traded in 168 points range (High 5609 & Low 5441). Though Friday it closed on the lower range for the day, the positives for the week were:
1. It closed in the Green over the week's opening.
2. It made higher top / Higher bottom for the week.
Considering the weakness in World markets and its effect on our markets on Friday, we may see a lower opening on Monday. We may see a quick rebound if previous weeks' low of 5441 is not broken.
As can be seen on the Weekly / monthly chart, we are approaching a narrow phase with major downside below 5350 and major up side above 5850. Please note that this can last for a while (and try our patience) but also provide enough range for Nifty Future to trade. Till such time we break out of this range we must continue trading the market - on both sides, as best as we can. I am sure the TP Grid points will definitely help you to be on the right side of the market.
Have a nice weekend!
Ketan Asher.
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