NIFTY

The nifty is moving in the range of 5200 to 5600. It is trading blow all the moving averages of 20,50,100 and 200 simple day moving averages. MACD is trading blow the zero line and MACD has crossed the signal line downward indicating sell signal. RSI(14) has changed it's direction downward. The Stochastic is also in the downward direction towards 50% level. All this shows that the Nifty will move towards 5200 psychological level, once this level is breached the next level will be 4830.

S&P CNX NIFTY

The nifty has fallen in down trend.It is trading below 200 day simple moving average. The RSI is making lower lows and lower highs the same is true for the MACD. RSI is trading blow 50 level and is at 28.91 and MACD is trading blow the zero line. All this indicate that bears are winning the game and dragging the nifty downwards. Once the important level of 5400 is breached, the weakness will be more visible and the next support level will be 5210.