NIFTY Analysis

• Nifty closed above day high ema.
• Price is getting closer to week high ema. Since its a Friday a weekly close above 5 week high ema will help bulls to extend gains. RBI policy news should also support bulls. 
• Comparing price with RSI it shows that this indicator is moving faster to overbought levels which is negative for bulls.
• RBI policy should also help bulls. If rate hike is more than 25 bps it will end this up move.