Nifty is near its resistance level of 5440
(had gap down opening). On hourly charts we are still away from overbought
zone. On daily chart RSI has broken the downward trendline. On more thing to
note is on daily chart RSI has developed swing failure. Looking at these evidences for the time being
bias will remain on bullish side and we
can
expect nifty to continue its recovery.
Nifty Sup : 5365 Res : 5442-5515
