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
Nota
nifty approaching the 2nd resistance level ard 15000
Trade fechado: objetivo atingido
nifty bounced back nicely to touch the 2nd resistance level at 15K and is now expected to cool off.
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