Nifty's upmove looks to be stalled at 5900 levels.
The two consecutive doji with now index below their lows shows that the trend is still of range.
With first test of 200 sma already done the index flattered in 4 days which is not a too bullish sign.
The index has also come inside the flag formation. This itself is not bearish bearish if the index takes support at 5800 and resumes upmove.
Worth noticing is the rsi play for nifty futures. The indicator has been between 70 and 30 levels for last 7 trading days.
The two consecutive doji with now index below their lows shows that the trend is still of range.
With first test of 200 sma already done the index flattered in 4 days which is not a too bullish sign.
The index has also come inside the flag formation. This itself is not bearish bearish if the index takes support at 5800 and resumes upmove.
Worth noticing is the rsi play for nifty futures. The indicator has been between 70 and 30 levels for last 7 trading days.
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