Nifty Stuck @ 10622?

Nifty tried to rally with gap-up but it was not successful even after successful attempts as shown in chart and got stuck in a corrective pattern.

Call and Put writers did hold the Nifty between tight range of 10500 and 10600.

Also the support Nifty needed from BankNifty was also not seen as it was following its own down move.

Monday market probably will give us a direction if anymore up-rally is pending in Nifty or it will take a U turn.

Many expected Nifty to touch mid way of 10600-10700 but unfortunately it did not as it did not have the fuel to do so.

My long term view for July is still bearish.

Note: My views are strictly for educational purpose as I mentioned in my previous posts also based on the same day's Volume,Chart analysis and Wave theory.

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