Nifty daily analysis

• On closing basis the number bulls should try to achieve is 5540 and we will get 5600++ above it.
• But for now we should see if 20 day moving average holds. If it gets broken Bears will be stronger. Daily chart has given a hammer pattern on 20 dma which is giving hope for bulls.
• Daily line chart is also showing a "U" turn by price favoring bears.
• So Price is giving mixed signals with negative bias. Lets wait and see if 20 dma gets broken or Bulls able to close above 5540 for further direction.
• S&P 500 EOD ANALYSIS