Day trading guide by Motilal Oswal Securities

'Wedge' pattern confirmed the support around 7700 as the Nifty saw a rebound towards 7950.A breach only below 7,680 would distort the ongoing bullish trend and hence serves as a trail stop for longs.

With the expiry week ahead we expect the gyration to continue within the 7,700-7,950 range and only a breach outside would unfold directional momentum. The proximity towards the lower end of the bound provides a good reward-to-risk opportunity for fresh longs.