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The Nifty-50 index Futures continues to oscillate back and forth in a narrow range indicating consolidation going on currently. The upper end of the range is placed at 10,850 and the lower end of the range is placed at 10,700.
The next trending move will be seen on a breakout from this range. A trade above 10,850 can resume the uptrend taking it to levels around 10,950-11,090.
However, a trade below 10,700 can trigger a correction to levels around 10,530-10,400. The RSI is also oscillating between the range of 40 and 60 affirming sideways consolidation.
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