Nifty managed a Pull back on account of the ST in Oversold nature and persistent + divergence in Hour charts. A close above the Day Lema has called for a pause in the down movement. Cluster of resistances at 5950-60 by way of Day HiEMA, 10 DMA & 50 DMA.
A Fast Rise possibility exists between 10 DMA and 50 DMA - which will show its full effect if the EOD Close is above 50 DMA. Capturing 50 DMA and a close above it would make Bulls happy.
| DAY VALUES | |||
| HIGH | 5928 | 5 EMA | 5928 |
| LOW | 5886 | 5 DMA | 5924 |
| CLOSE | 5923 | 10 DMA | 5966 |
| 50 Hr MA | 5948 | 50 DMA | 5960 |
| 100 Hr MA | 5999 | HI EMA | 5953 |
| LEMA | 5906 |
The Hour Charts signals a Channel breakout and the retracements from 6112 - 5879 are:
| 23.60% | 38.20% | 44.70% | 50.00% | 61.80% |
| 5979.83 | 6005.09 | 6016.33 | 6025.50 | 6045.91 |
