Markets opened up strong. Nifty made a low of 4630 levels as their is good support at the 4635 levels. Nifty closed marginally in green. RSI is facing resistance at the trendline. Desicive break out upwards can take the Nifty to 4800 levels, but till the time it is not crossing the same, I would rather suggest that the positions should be kept light.
Nifty chart suggests that there will be some hault in the market rally. In the last 2 days. Nifty is Bulls are really trying hard for Nifty to close above 4700 levels. But the outcome of the tag of war between the Bulls and the Bears will decide the market trend. Till now the Nifty is closing above the trendline. We have good support at 4635 levels, but the trading pattern gives the suggestion that traders should keep their positions light.
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