Nifty closed more or less flat for the week making doji on weekly charts.
During the week it moved below 200 daily SMA but finally closed above it. As of now 50 daily SMA at 8440 is resistance and index needs to close above it for up move ahead.
Index managed to stay above 20 day moving average is a bullish sign. Now 8480 is resistance and any retreat from that level will be bearish sign.
Daily RMA is looking interesting with uptick from 50 levels.
View is slightly bullish with 20 day sma at 8290 as stop loss.
During the week it moved below 200 daily SMA but finally closed above it. As of now 50 daily SMA at 8440 is resistance and index needs to close above it for up move ahead.
Index managed to stay above 20 day moving average is a bullish sign. Now 8480 is resistance and any retreat from that level will be bearish sign.
Daily RMA is looking interesting with uptick from 50 levels.
View is slightly bullish with 20 day sma at 8290 as stop loss.
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