Nifty weekly charts have something to say.

NSE:NIFTY   Nifty 50 Index
Giving a look at the Nifty weekly chart. The index is moving into gap zone plus RSI is near 60 levels. Though the daily charts don’t display any caution yet, but 60 levels on weekly’s are pressure points. The week is still on, so the analysis will make sense only after the weekly close by Friday. But the exuberance is building up, emotion outburst are generally not good. Waiting for lower time-frames to show some signs.

Bharat Jhunjhunwala

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