60 min chart Nifty
Morning session the prices went down to touch the orange median line and immediately zoomed up so fast , it was difficult to enter the position planned.After the fast move. the prices came down to touch closer to the intra day low and could enter long at 5500 levels.Todays price moves was like a wide range consolidation with positive close.prices are above 5 & 20 EMAs and above 50 sma in the hourly chart which is a positive confirmation for the shortterm trend now.Daily price has also moved above 5 & 20 ema and the 50 sma is at 5660 .
Expect the targets to be at 5675 at the junction of median line and further up at 5700 - 5750 levels at the orange UMLH.
Trailing stoploss to be maintained to protect from volatility due to global news.