June 4, 2015

Nifty chart analysis

  • Nifty RSI is moving down below the 70% line. Weekly shows a bearish pattern. For further bigger falls price must sustain below 7960 levels on weekly closing basis.
  • Bot Weekly and Daily RSI is fast approaching oversold levels. If Daily RSI reaches oversold zone before price reaches the support zone there is still hope for an up move for Bulls.

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