MAJOR RESISTANCE LEVELS: 5903-5919-5941
MAJOR SUPPORT LEVELS : 5868-5844-5829
NIFTY ( Closing): 5889.25
Nifty closed just as we predicted yesterday. Positions ( long & short) should be taken carefully today as Indian markets can move any side. Nifty is at a neutral status now.
MACD indicates strong bullish trend. But, RSI shows 'oversold' status obviously. Upper Bollinger Band stands just above yesterday's high level ( 5898). HSBC's prediction regarding growth rate of India may impact in Indian markets. They forecast that India to retain it's growth rate until 2020 by unilateral trading relationship with China.
GOOD LUCK...................
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