Nifty Future Analysis: No Specific Cues Yet, Alertness Needed To Win

Nifty Future Analysis: The week gone by was only slightly different from the earlier one. The market still hasn’t gone anywhere yet. Monday started with the same kind of dullness of the last week, but the market quickly made amends by moving up on the next two sessions. Just as traders were getting ready to play the long side, the bears came right back, slammed the door in the face of the bulls, particularly in the Bank Nifty. FII were buyers earlier in the week, but turned net sellers once again. 

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Nifty Could Remain in the 17405-17855 Zone in The Near Term

Nifty Trading Zone: “Nifty after falling gap down has formed a hammer like pattern after a fall, suggesting possibility of an upward reversal. Advance decline ratio fell to much below 1:1 suggesting broad based profit taking in the markets.  Nifty could remain in the 17405-17855 zone in the near term,”.

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