NIFTY Analysis

• Sustaining above 50 SMA and the resistance line shown in first chart is important for bulls.
• Two more day's for this week to close and closing the week above 5177 will favor bulls. Weekly MACD is converging if it gives a buy this up move will get extended.
• Above scenario possible only if price sustains above 50 SMA. For bears price need to close below 50 SMA.