The Index has been trading in the slightly downward sloping channel since a month.
RSI & MACD both indicate that Bears have an Edge over the Bulls currently.
BUT
The same indicators are in a strongly bullish mode on the higher time frame charts.(weekly & monthly)
SO
We can expect a bounce back this week.
Resistance levels: 14570 / 15000
Support levels: 14140 / 13600
RSI & MACD both indicate that Bears have an Edge over the Bulls currently.
BUT
The same indicators are in a strongly bullish mode on the higher time frame charts.(weekly & monthly)
SO
We can expect a bounce back this week.
Resistance levels: 14570 / 15000
Support levels: 14140 / 13600
Comment:
nifty approaching the 2nd resistance level ard 15000
Trade closed: target reached:
nifty bounced back nicely to touch the 2nd resistance level at 15K and is now expected to cool off.
