Nifty is doing a zigzag between sell and neutral mode today.
The index though is showing that currently more weakness can be expected as it is failing to cross any resistances.
Doing a simple RSI analysis on Nifty daily shows that we have formed two peaks on 3rd and 14th Dec both at 50 levels. Now this is first time happening in this bull phase which itself shows that the bull is in danger of phasing out.
The Bank Nifty though continues to be in sell mode on daily charts.
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