NIFTY for upcoming week (23 May,22 to 27 May,22)

22 May 2022

We all saw highly volatile previous week with massive gaps on either sides. Nifty formed a range with defined boundaries at 16400-15735. A close above 16400 can bring more upside for short term. Though a breakout fail at 16400 can bring in another rally on the downside as well that is towards 15735. Following a breakout above 16400 can accelerate the markets to close the gap until 16682. Again with volatility on rise, keep your position size in check at all times and trade carefully.
I prefer to have a view of bullish only on Breakout above 16400. Or else it will stay bearish to sideways.

Happy Trading :)

Disc: Chart posted only for learning purpose.