May 17, 2021

NIFTY EOD charts

- nifty closed 1.7% in positive at 14923
- this is a fantastic start to a new week
- AD was 2:1

- note markets have been rangebound this year for almost 4 months
- off late, the level of 15000 is proving to a big resistance
- today' big bar should hopefully lead to a breakout in this week
- if this happens, a fast rally to 15500 is possible
- bullish view negated below 14500

- option writers do not expect 14700 to break this series.

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