Nifty index closed slightly +ive for the week at 8262 levels. Though it remains below 200 SMA at 8297, it recovered from lows of the week.
Weekly candle was an inside candle at lower keltner band with RMA at 41 levels.
Daily trend has come to Neutral from Sell mode is a good sign.
Trend for next week will turn to bullish if we cross 8330 levels and move above it.
Short term support is at 8100 levels and if we break it then move to 7900 is possible.
4 HR trend is slightly bullish with both RMA and trend indicator in buy mode.
Weekly candle was an inside candle at lower keltner band with RMA at 41 levels.
Daily trend has come to Neutral from Sell mode is a good sign.
Trend for next week will turn to bullish if we cross 8330 levels and move above it.
Short term support is at 8100 levels and if we break it then move to 7900 is possible.
4 HR trend is slightly bullish with both RMA and trend indicator in buy mode.
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