Nifty InstaView 10 Mar’21: Stuck


Nifty View: Nifty continues to extend the recent bounce back with slow and steady up days. Today’s trading session was marked with intraday volatility which resulted in no follow through buying post the positive gap up opening for the index. A closer look at the 15min chart of the index shows clear existence of short term resistance and support. On the upside, the index faces resistance from (15,200-15,235) and on the downside, strong short term support comes in at (15,100-15,150). The index needs to break beyond either of these bands to find follow through directional movement. There is an intermediate negative divergence too with RSI9 - just to keep you posted.                      


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