Nifty has been in consolidation for the last 4-6 weeks. It has given a breakout from that range few days back. After breakout, Nifty is sustaining above the breakout. Breakout was from a Symmetrical Triangle Pattern. It is bullish signal for the Nifty Index.
Short term traders can buy Nifty Futures or buy Nifty Options to create long positions. Buy around Nifty cash levels of 10850-10900 for targets of 11200-11300. Stop-loss should be placed around 10800. As these are cash levels, prices for Nifty Futures should be adjusted accordingly.
Nifty target is expected to be achieved in next 2-3 weeks.