NIFTY In a range

• Nifty is struggling to close above 5900 because of the resistance confluence. The resistance line from 6338 and the Golden ratio for 6338 - 5176 level comes near 5900 level. When ever price comes across confluence of resistance or support it becomes hard for price to break above or below it. Thats why we are seeing the spikes above 5900 being sold off.
• Daily chart is also showing a range from 5693 - 5945. Breakout from this range and close outside it can give good direction for the index.