The index has been consolidating in a sideways range since last two weeks. A triangle pattern
is visible on the daily charts
, the breakout is yet to occur. The prices are holding the TS
line support tightly. This 12200 levels will serve as minor support while 12070 the KS
line is an important support. Any redound should take place from these supports. Nifty
is set to move to 12310, 12380 & 12500 levels. But when we look at the RSI
, the momentum seems to lose its strength, I would really like the RSI
to break up from the 60 levels which it is tested a multiple number of times.