Major Resistance Levels : 5238-5261-5296
Major Support Levels : 5174-5137-5116
MACD has crossed the signal line just above the o level. It indicates slightly bullish trend. RSI stands at neutral zone. Nifty closed just above the Bollinger middle band level ( 5200). It depicts a neutral trend. Anyway, Nifty may open with an upward gap due to global cues.
Nifty ( Closing ) : 5215.70
Nifty stayed in red all the trading hours on Friday due to worries regarding monsoon. Experts claim that there will be monsoon deficit this year. It may make negative impact on Indian markets.
On the other hand, global markets give an optimistic view to the Indian markets too. European markets closed with a gain of 2.5- 4 % on Friday, while, US markets closed around 2% up. Anyway, Indian markets have to take a direction either upward or downward.
GOOD LUCK.....................
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