Breaking the EMA 89 level of 17213 on daily chart will give good momentum towards the target of 17400. Until this level is breached strongly on the chart, a cautious view of the market is favourable. Although a gap up opening above all the previous resistances suggests good momentum, it is always better to wait for confirmation. A very narrow 50 point range between EMA 17213 and 17180 marks the consolidation. Breaking the 17180 levels would take the price till 17100, and breaking 17213 would take it up to 17260 intraday.
A combination of levels on the daily and hourly charts gives a good view of the movement.
DISCLAIMER: I am not SEBI registered advisor. All views mentioned are for validation. Please do not take trades based on these views.
A combination of levels on the daily and hourly charts gives a good view of the movement.
DISCLAIMER: I am not SEBI registered advisor. All views mentioned are for validation. Please do not take trades based on these views.
