Crossed 4800 mark

After 5 days of consolidation Nifty finally broke out of the 4800 range and closed strong at 4850. Trigger was Moody's upgradation of India to Investment grade. This has negated the possible downmove as envisaged yesterday.

Next down leg starts

Nifty in a tight spot. Not able to cross the 4780-4817 range. It closed below 21-Dema, 5D-Hema. Daily stockastics in the OB range. Consistent 5th day of its failure to cross the 4800 range. All this points to a downfall.

Nifty trading below 5 EMA

Nifty has moved below 5D ema, and is about to go below 5D Lema (4690).

Nifty sustaining its progress. It is ruling above Pivot, 5D HEma, 21D Ema.