Outlook on nifty 50 for the next week. Is it going trending?

Nifty 50 on the daily chart is trading in a range and has respected the zone quite effectively.

Index has remained sideways since a 3.82% move on 12th may. Market trade in cycle and after a sideways cycle, a trending market is predicted.

Either side movement can be seen in the index as 18 bars or 24 days it has remained in the range.

Major Resistance :- 25125, 25500
Major support :- 24500, 23930

This 600 range and change into same range of trending market.



Even the moving averages are coinciding and forming a MA gate which can give good momentum trading setup

Wait for the price action near the price levels before forming a trading basis. Trade only the setup and wait for the retest on either side.