MTECHTIPS INTRADAY TRADING ANALYSIS FOR NIFTY FUT
Nifty on last trading session closed at 5907 with loss.on daily candlestick chart nifty spot index is in absolute uptrend and we rally started at 5570 and now hit year high of 5930 in 2012!!
on chart nifty weekly average is 5890 which is first support on downside below that 5765 is second support and which is also month average.in last 5645 is 3 month average and last support of this uptrend.
on chart nifty daily cci and rsi both look bearish and suggesting correction in next week while nifty macd also look like forming rounding top which is sign of correction?
below 5890 correction may take nifty upto 5765 to 5700!!