Nifty Prediction for upcoming week
Nifty may remain in a range in this week 21200 -21500. The market participants seem to have turned cautious, due to the sudden volatility. Although the market is still strong. There are strong position on the call side at 21500 and on put side at 21,200 followed by 21,000. Overall, the Nifty50 remained rangebound taking support at 21200-21000 levels and facing resistance at 21,500-21,550 levels, hence as long as the index holds this immediate support, the rangebound trade may continue and if it trades above 21,500 for a few days, then another leg of the rally can be possible.
From a technical point of view, “there has been a mere alteration in the price chart for Nifty, but the recent candlestick formations certainly showcased the exhaustion of the bullish strength and might attract price-wise correction post the rally.
This is only my Prediction.