NIFTY Daily Analysis

• Nifty did a pause day yesterday at its 20 day moving average. So close above this level will help bulls to extend gains.
• Closing above 20 DMA Price will target 5550 level were the resistance for index is strong.
• Weekly chart's Triangle is looking good. After finding support at the triangles support line with the help of a bullish hammer Price looks like it is ready for an up move towards the resistance line of the triangle and if that succeeds 5700 may be achieved.
• For bears Price has to break 5348 - 5370 support level on closing basis.
• S&P 500 Futures Four hour Chart