Happy_Candles_Investment

Nifty trapped between strong support and strong resistance

Long
NSE:NIFTY   Indice NIFTY 50
Right now Nifty seems to be trapped between strong support and strong resistance. The support zone is 21415 to 21581. Resistance zone is 21670 to 21847. Nifty needs little bit of consolidation in the range. Results from various companies will drive the nifty forward in either direction. The interim budget is also around the corner that can also be a guiding light for Nifty. Wild swings in either direction in addition to Geo-Political events can also turn the fate of Nifty and things can turn cloudy in a session or two. My advice for now will be stick to large caps and selective mid and small caps with ethical management and strong fundamentals and avoid companies with low durability, high debt, high pledging and questionable ethics. Which should be the case anyway but more so with Macro and Micro global situations and events which are in progress and around the corner.

Happy Candles Investment
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