Short term view & levels for Nifty No ratings yet.

In the last trading session, Nifty had a Gap-up opening which was witnessed by a follow through selling and Nifty closed on a negative note at 10,657.30 odd levels just below its 50 day SMA. Closing below 50- Day SMA indicates a weak closing and may require a quick action from shorters if Intraday support of 10,650 is broken during the day. (Also read: Monthly view on Nifty for July series)

On a global front, U.S markets closed on a slight negative note and Asian markets are trading mixed, as of now.

Trading Strategy-

Short term traders may buy Nifty above 10,700 for targets of 10,730/10,820. Fresh selling may be done below 10,604 for targets of 10,530/10,480.

Intraday traders may follow the below mentioned levels-

Buy above 10,680 for targets of 10,705/10,754
Sell below 10,650 for targets of 10,615/10,565
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Author: Traders' Chowk

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