The Nifty Is In A Consolidation Mode And Looks Like It Will Continue For Some More Time

The Nifty is in a consolidation mode and looks like it will continue for some more time till there is a range breakout. We haven't seen that kind of momentum which has been prevailing in the last couple of sessions.

For the index to move beyond the current range, we need to see a pick-up in volume momentum and activity in the cash market. Instead, the market has been moving in a range in the last couple of days with resistance at 9,350 – 9,380 while support is seen at 9,250 is keeping the lower levels intact.
A breach of this range will provide further direction, with a bias towards positive side since we are in a short-term bull trend.

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