- The raising wedge in daily chart is still valid. the morning may get a minor gap up because of the U.S. markets.
- But any drastic changes in RBI policy can bring the raising wedge in to action.
- Nifty closed between 5 day high ema and low ema.
- But the index is still trading above its 20 day sma. and as long as it stays above the 20 sma bullish moves are possible.
- I have also shown the weekly candle. Right now it looks weak but we have four more day's to go in the week and a move above 5450 can turn the candle to a positive one.
- But staying below 5400 and 5350 will not be good news for the bulls.
- S&P 500 ANALYSIS AFTER CLOSING BELL