Nifty future Closes at the Swing High, Now What ?
In the last posts of the previous week, this author had indicated that Nifty futures may trade sideways in the low volume holiday market, with a mild positive bias. Last Friday, Nifty futures opened slightly lower than the previous day's last traded price and almost immediately recorded a low of 5966. This low was 5 points below the previous three trading day's low at 5971. Since low volume holiday markets are liable to record freak trades, this author had also indicated that traders may carefully observe any breach of the three day old narrow trading range as well as the breach of the inside day candle of Thursday. Now let's check the intra-day chart of Nifty futures to find what happened on Friday.
Nifty Futures - Intra-day Chart
