What Indicators Tell About Nifty

Nifty CMP : 4476

Today we can some more upside towards 4500-4567. I tbe chart, we can see strong resistance at 4550 levels and also currently nifty is in oversold zone , so profit-booking cannot be ruled out at higher levels. On the lower side, 4240 will act strong support zone.



Major Indicators

Average Directional Index ADX: 37 - (Bullish)
5 day RSI: 83 (overbought)

Intraday strategy: Buy on declines target R1-R2.


Regards,
Rajandran R