Nifty Spot On the Up side

By a Staff Reporter:  Nifty Spot On the Up side :- Bulls need to move above immediate basis 17152 for 17188-17222. Swing basis above 17250 expected upper levels are 17280 & 17330.

On the Down side:- Bears will get active below initially 17121 for a move towards 17070—17045 & swing basis major 17000/16978 to 16940.

Therefore, for short term basis Nifty can head towards 17280-17330 & even 17455 if the reversal sustains above 16978.If the index breaches 16978/940, weakness will further extend towards 16824.

The options data indicates that the Nifty could see a wide trading range of 16800 to 17350 in the coming days.

India VIX fell 5.57 percent to 18.67 levels.

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Source : Eureka

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