NIFTY stuck in a trading range broadly 10700 to 10900 oscillating in between. A range breakout on either side could yield 250 – 300 points swiftly.
Thus professional trader needs to trade contra as we are stuck in a coil pattern until the range breakout occurs on the other side.
As we are in a no trade zone else the trend trading positions needs to be take only on breakout above or below the key cluster zones.
What lies ahead of the budget for Indian equity indices NIFTY?
Will see a bust before boom?
What is in store for 1st Feb interim budget before elections?
Therefore in these kind of situations advanced technical analysis concepts such as [P] square Elliot Waves along with the time cycles and traditional methods would help trade build the next trade setup.
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