Nifty outlook by EpicResearch

Nifty forms an Inside pattern on weekly charts indicating indecisiveness and squeeze in range. A clueless and weak breadth caps the upside as the range for Nifty broadly on a higher side remains between 10900 to 10700 while with Inside range on the weekly chart it is now between 10850 to 10750.

This is a pure compression in the volatility which indicates a move is around the corner. With that, Almost all the sectoral indices saw a muted week as range compression was seen across the board. This indicates the next directional move may have direction with clear identification of leaders for the move. Also, this week it was largely a positive move by Pvt Banks and #FMCG.

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Posted in: Indian Market Tips