Nifty Watch:- Today Nifty opened at 5824 and touches its high at 5897. After that Nifty move down and touches it’s low at 5722 and finally closed near to its day low at 5732 with a decrease of 92 points to its day open. Nifty is trading at lower end of its trading range (5950-5730). A breakdown at this level (5730) may lead to a down move.
Trend:- The short term trend is up. Nifty is standing on its 200 days MA. If nifty breaks its 200 days MA then we may enter in a downtrend.
TA Insync (55-5) is in downtrend. It is moving down at 17.51.This suggest that Nifty may move down also.
Level:- Looking for support at 5550. Resistance comes at 5950.
Summary:- Nifty is trading at the lower level of its trading range. Buying/Selling is suggested after the breakout or breakdown. Investor should wait for this.
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