Nifty Futures at Critical Resistance Level

Nifty is spending in a broader consolidation range for the last three months in the band of 10600-11000 levels. Now its been nearing critical Quickflip resistance level 10960 on the hourly timeframe.

Quickflip is maintaining its short term sell mode since 18th Feb. Quick flip entered into short around 10802.9 levels so far under the drawdown of 100+ points.

Trading sentiment remains positive for the last 7 trading session and markets move totally in a compressed sideways action. Also the Mid point of the balance 10840-10850 zone could be consider as the bias zone for the sentiment to remain negative.

For continuation of downtrend Nifty Futures has to hold the quick flip resistance level 10960 and it should also manages to drag down below 10840 levels and sustain below that for lower trading odds towards break of 10600 or further lower towards 10200 levels.

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