Nifty CMP : 4476
Today we can some more upside towards 4500-4567. I tbe chart, we can see strong resistance at 4550 levels and also currently nifty is in oversold zone , so profit-booking cannot be ruled out at higher levels. On the lower side, 4240 will act strong support zone.
Major Indicators
Average Directional Index ADX: 37 - (Bullish)
5 day RSI: 83 (overbought)
Intraday strategy: Buy on declines target R1-R2.
Regards,
Rajandran R
Wednesday, July 23, 2008
What Indicators Tell About Nifty
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