NIFTY_Weekly_05-03-2017.png

Nifty has shown Strong bullish momentum so far , however its now king  small pause and being directionless , Latest candle is a Spinning top like formation ..

Daily chart has flag like formation :

Bull Flag Pattern has 67.13% Success rate  Learn how to profit from it here
NIFTY_Daily_05-03-2017.png

EMAS 20 & 50 (weekly ) are converging so we are directionless

8900 -8850 level will decide the fate of nifty for next few weeks ahead of state elections

NIFTY NEXT Resistance is 9050
after which nifty will resume bull-mode

NEXT Support is 8841
after which we may see bearishness

 

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