Nifty opened higher at 11322 and bounced further to register day’s high 11373 but declined back by more than 70 points to register day’s low 11299 and closed 52 points up at 11322.
Yesterday, intraday bounce towards 11322-11341 was expected with support at 11270-11257 but there were cautions for small or big decline after achieving 11341.
Intraday trading strategy was to buy Nifty in 11270-11257 range for targets 11322-11341 but Nifty opened gap up and targets were achieved at opening only. Later Intraday selling was advised in 11330-11346 range with stoploss of 11353 for target 11261, Nifty declined till 10299 from 11330 and was giving profit more than stoploss but later bounced back without achieving target and stoploss was triggered. Now, let’s have a fresh look at latest charts for further scenario.