Nifty Prediction
Nifty continued to consolidate within a narrow range ahead of the FOMC meeting in Wednesday’s session and
ended around 24950 with minor gains.
In last three trading sessions, Nifty has consolidated within a narrow range as market participants seem to be
waiting for the outcome of the FED’s decision on interest rates in the U.S. and the global markets reaction on the
same. However, the index has not breached any support in this consolidation which is a good sign. The immediate
support for Nifty is placed around 24750 followed by 24600. Only if the index breaks these supports then we could
see some correction else the uptrend shall continue. The 25000 mark has not been breached yet and a breakout
above the same could lead to an up move towards 25330. Traders are advised to trade in the direction of the
breakout as we would see a trended move once the index surpasses these hurdles.
