Tech View: Nifty charts hint at indecisiveness. What traders should do on Tuesday

October 16, 2023

The daily and hourly momentum indicators provide divergent signals and in such a scenario a consolidation appears with high probability. Contraction of the Bollinger bands also supports our sideways outlook on the Index. The range of consolidation is likely to be 19,500 – 20,100 from a short-term perspective.

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