NIFTY SAR at 5305

NIFTY has crossed 10,20,50d EMA convincingly. NIFTY SAR now stands at 5305, so hold it till it remains above the SAR. Bank Nifty closed just below its 20D EMA.

Bank Nifty Chart

Bank Nifty has bounced from the trendline in todays opening trade and has given a gap-up opening. A clear buy signal.

Nifty above SAR in buy mode

Nifty has opened gap up above the SAR and is in buy mode.

Nifty approaching 5200

Nifty could not sustain 5250 yesterday. Watch out for Downside support at 5190-5200, and upside resistance at 5260-5300.