NIFTY Chart Analysis

• Nifty getting resisted near 20 Day SMA. Closing above 20 SMA could take nifty towards the top of the range mentioned in the second chart.
• Price is likely to trade in a range as shown in the second chart for sometime.
• Weekly chart shows stochastic continue to remain oversold. If Price does not takeout 5 Week High EMA on closing basis stochastic will continue to remain oversold.