Nifty spot On the Upside

Nifty spot On the Upside :- In case Gap Up opening above 17344 initial expected Gap up hurdles ether at 17444 or extended basis upto 17500/530. For next journey Weekly basis Bulls need to move above 17530 for a move towards 17580—17635-17700 & very major 17777. Traders should cautious at/before the upper hurdles.

On the down side:- 1st support at 17255 & 2nd 17175. Huge Gap support in between 17175 to 17000 almost. So, 17011-16980 crucial one. Current positivity would be negated if the Nifty closes below 16980. Then only Break down major swing supports are 16920—16877/837.

Positional basis should not break 16666/16555 on the down side for 17555/17777 on the upside.

Option Data indicates Trading range for coning session is 16800-17700.

India VIX fell more than 6% to close at 22.61 after declining over 9% in the previous session, The fear index, dropped 33% from its recent high of 34 levels.

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Source : Eureka

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