Inspite of a 300 point rise, Nifty could not close above 5-wk sma. But just squeezed into the rising channel - Can it keep up with the rising channel in the coming weeks..?
Nifty managed to close above this falling "Daily channel" suggesting upside possibility. The next pivot high of 5105 coincides with the "Monthly ema" and Monday is the monthly close - Can it close above that after failing the weekly close (Closed below 5077)..??
Nifty , in the past, risen sharply (once from 3900 & another from 4500) - But this time the higher time frame TA is down and a crucial monthly close is awaited on Monday.
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