Nifty

Trap Line getting stronger on Nifty charts

Nifty traders are victim of a trap line near 7580, which has been engulfing bulls since January’16. Today to we made high exactly at around 7580 which is a coinciding resistance of many studies. On the other side even the 7600CE has been witnessing continuous call writing since the start of expiry. Currently indicators are flat on daily charts since we are trending range bound. Even a Broadening formation has can bee seen which has a symbol of perfect volatility. Nothing can be predicted from the candlesticks as of now but may be tomorrow we can get something interesting on weekly charts after a close. So i am curious for tomorrow close, though my sell call on Nifty is intact since March 3rd Post. 

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