Nifty daily analysis

• Nifty has shown the first sign of weakness yesterday with a negative closing. But bulls need not worry unless price falls below 5800.
• Price is trading in a narrow channel. Staying within this channel nifty can achieve 6000. Falling outside it and trading below 5800 can give good correction.
• The indicators as shown in the second chart is showing OB condition. But this is typical of bull market were these indicators can remain here without giving any meaningful correction. Only hope for bears is to bring price below 5800 and create some panic for the bulls.