NIFTY TRADE SETUP FOR MONDAY
NIFTY extended their journey over sixth consecutive week and scaled to a fresh all-time high of 13579.
Going ahead, I believe 13600 would be the key level to watch, as only a decisive close above 13600 would lead to extension of ongoing rally towards 13900
mark as it is the 161.8% extension of the consolidation range (13200-12800), projected from breakout area of 13200, placed at 13847.
Failure to sustain above 13600 would lead to consolidation in the 13600-13200 range amid stock specific action
Going ahead, I believe 13600 would be the key level to watch, as only a decisive close above 13600 would lead to extension of ongoing rally towards 13900
mark as it is the 161.8% extension of the consolidation range (13200-12800), projected from breakout area of 13200, placed at 13847.
Failure to sustain above 13600 would lead to consolidation in the 13600-13200 range amid stock specific action
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