Daily Technical Analysis

Nifty — The index opened on a flat note and saw range bound trading throughout the day’s trading session. It ended the day with gains of 5 points.


Range bound — The index has been stuck in a trading range for the last two trading sessions. It has been confined in a trading band of 6168 on the upside and 6095 on the downside. A breakout from the 6168-6095 range should see a directional move. Break above 6168 could see index test higher levels around 6185-6240, where as break below 6095 could see it drift down towards the 6077 level.

Conclusion — Trade a breakout from the 6168-6095 band.