NIFTY Daily Analysis

• Price action is favoring bulls for the short term.
• If price stays above 38.2% (5110) Fib level then  5 Week High EMA will be the first target.
• Price sustaining above 20 DMA will help bulls to extend gains.
• The Unfilled GAP near 5230 levels and 50% Fib level may act as resistance if nifty gets there.
• Bears need to hope for a break below 5 day Low EMA and a daily close below 23.6% Fib level.
• US DOLLAR VIOLATING RESISTANCE LINE
  
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