Nifty opened higher at 11185 and bounced further to register day’s high 11256 but decline back sharply by more than 120 points to register low 11127. Nifty bounced back from 11127 again and closed 98 points up at 11200.
Yesterday, intraday bounce towards 11196-11225 was expected after break above 11133 which further could extend towards 11341 in coming sessions. Trading Strategy was to Buy Nifty at 11135 with stoploss of 30 points for targets 11196-11225.
Nifty broke 11133 and achieved targets 11196-11225. Later fresh levels and outlook was updated during market hours twice which worked perfectly well. In last update, Nifty was expected to bounce towards 11226-11256 after trading above 11165 for more than 15 minutes. Now, let’s have a fresh look at latest charts for further scenario.