Nifty: Chance not given … Bears need to Wait

Bulls are in full charge as they do not allow prices to slip below 14,100, which could have triggered some selling impetus. But that possibility is now behind us and the underlying momentum should help the index rally further upward. The index has just nudged itself within the red rising channel on the 75min chart of Nifty Futures. On the upside, 14,500 is the obvious target with any price correction to face support from 14,250 which is the upper border of the blue channel. Strategically staying bullish is the sensible thing to do, unless proven wrong.

Trade Well. Trade Wise.