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RSI Edge Analysis – Nifty

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Nifty scaled up in the last session to close positive. The futures closed at 10392. The next resistance for Nifty is placed at 10450 levels. Above 10450 the index is set to 10610 levels.

However the RSI on the hourly charts are pointing towards dull excitement of the buyers to take Nifty up. A move blow 10330 may bring the bears back into action and Nifty may test 10120 – 10050 levels.

Bharat Jhunjhunwala CMT, CFTe, MSTA, MFTA

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