Strength: Nifty has closed at 5581 above week pivot, week 5EMA and above all Lema's. The 5ema has is greater than 5sma.
Weakness: NS has closed below all High EMA's and also below day 5EMA.
Coming week:
The above scenario show indecisiveness and Nifty would be range bound till NS closes below the Dlema at 5560 which is also the breakdown point of the Rising Wedge in Daily Charts. Finding supports at these levels would render NS higher upto 5710 which is the breakout point of the trenline connecting all the present Highs and would find resistance at 5800 ++ the upper line of the rising wedge.
Strategy for the week would be
Buy near 5570-80 with a SL of close below 5560NS
Action plan for the Day:
Buy above 5560 near 5575-5580 levels with SL Hour close below 5555 -day Lema
Sell below 5555 with SL hourly closing above 5582 prev close and above Dlema
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