Perspective : This market is clearly balancing with short volatile moves last week in either direction failing to resolve the impasse.
Back Ground :- Larger bracket is seen between 5511 and 5675 with 5593 as the pivot for the week on closing basis.
Chart Speak :
- A normal distribution mostly within the value area of friday
- The lower volumes and lack of participation made it an "inside day"
- On an inside day we trade a break of value and range, as we wait for information that new activity wants to come and move the markets from current value.
- 5594 continues to be our reference point to the upside.
- 5547 would be watched on the downside.
The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium website http://www.vtrender-2.com
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