Nifty Weekly Technical Analysis for Week Beginning 23 July

The Grind down continues, Nifty made a high of 5258 and low of 5169 a range of just 89 points from the whole week. Trading sideways market is the most difficult part as a trader, As every time it moves near the upper or lower band many traders buy or sell in anticipation of breakout and when it do not materialize they are either stopped out or they start taking aggressive stance on market and ultimately loosing money. So let the market decide where it wants to go and once clear trend emerges jump in and make your profit.
Always remember Market is a deep ocean and we as trader want few drops in that ocean in term of profit to be a successful and profitable trader.

Nifty Hourly Chart

Nifty Hourly Charts have taken support at the bottom of channel at ..

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