Please refer to Nifty Chart (2 Min.) which is self-explanatory.
Nifty has closed at 5365 (above 5353)may be treated as Turning Point.
Immediate Resistance is at 5378 and then at 5403.
If Nifty crosses 5378 and stays above 5403, it may go up to 5428 – 5450 – 5468 and then 5484 Levels.
Immediate Support is at 5353 and then at 5336 – 5315 – 5279 - 5258.
If Nifty breaches 5353 and stays below 5336, it may go down to 5315 – 5279 – 5258 Levels.
On Daily Charts, ADX is Neutral. MACD is Negative and Histogram is Positive. Momentums, ROC are Positive. RSI is Positive. Stochastic %K is Positive and Stochastic %D is Neutral.
Volume (0.77 B) is lower than Volume MA (0.79 B).
The EOD Candlestick pattern “Big Green Candlestick” indicates Bullishness.
Please note that Strong Resistance Zone starts from 5400 to 5484 Levels.
All the Best.
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