PowerTrades

NIFTY- Perspective on constricted the range has become

NSE:NIFTY   Nifty 50 Index
Here is a view of the NIFTY weekly charts, this shows how restricted the range has become for NIFTY over the past few weeks. There are two ideal retracement zones to look out for 10890 on the upside and 10570 on the downside. Until these ranges are cleared its best to trade for a pullback to the value areas which is in the 10740-10780 band ( in the futures ).
there can be two potential triggers to this:
1. Any earnings surprise, most seems to be factored in these days
2. USDINR to breakout of the 68.5-68.7 zones to test 70 levels.
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