Nifty InstaView 10 Feb’21: 15K Held … 15K will be the Trigger

Nifty View: Volatility makes a come-back as the Nifty index slipped to temporarily break below the psychological 15K mark. There exists a rising gap at 15,000 in the 75min chart of the index and this gap proved itself well as a short term source of support. Now moving ahead, this 15k mark is going to act as a trigger for fresh price weakness. And on the upside if the index sustains well above 15,200 then we can continue to see further bullish bias. Till then, strategically I feel it is sensible to go for short-term long trades only. Short traders should be careful and can look to change gears if prices break below 15K.

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