DUE TO THE EXPIRY WEEK CONSIDERATIONS BEING IN PLAY, NIFTY CONTINUED TO TRADE IN A TIGHT RANGE OF 5710 ON THE HIGHER SIDE AND 5663 ON THE LOWER SIDE TO CLOSE AROUND 5672. TILL EXPIRY IS OVER ON 27TH SEPTEMBER, ONE WILL OBSERVE RANGE BOUND MOVE WITH A NEGATIVE BIAS. AS OF NOW THE EXPIRY IS LIKELY TO BE EITHER 5700 OR 5600. THE PRICE PATTERN SUGGESTS THAT THE BIG OPERATORS MAY PULL NIFTY DOWN FURTHER FROM THE PRESENT LEVELS TO HAVE THE EXPIRY AROUND 5600 LEVELS. HOWEVER THERE WILL BE MUCH BIGGER MOVEMENTS IN THE INDIVIDUAL STOCK PRICES OFFERING GREAT OPPORTUNITIES TO EARN HANDSOME GAINS IN THEM.
FOR TUESDAYS INTRADAY TRADING PURPOSE, SPOT NIFTY IS LIKELY TO BE RANGE BOUND AGAIN IN A TIGHT RANGE OF 5700 TO 5710 ON THE HIGHER SIDE & 5660 TO 5650 ON THE LOWER SIDE. SPOT NIFTY HAS INITIAL SUPPORT AROUND MONDAYS LOWS OF 5663 TO 5660 LEVELS SUSTAINING BELOW WHICH MAY EASILY SEE SPOT NIFTY SLIDING TOWARDS 5650 TO 5645 LEVELS. SIMILARLY ON THE HIGHER SIDE, SPOT NIFTY MAY FIND IT TOUGH TO BREACH 5696 TO 5700 ZONE SUSTAINING ABOVE WHICH ONLY ONE MAY SEE NIFTY MOVING UP IN STEPS TOWARDS 5705 TO 5710 FOLLOWED BY 5720. ONLY SUSTAINING ABOVE THE SPOT NIFTY LEVEL OF 5720 MAY GENERATE SHORT COVERING TO PROPEL NIFTY TOWARDS 5730 FOLLOWED BY 5740 LEVELS.
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