5 minutes chart is showing that nifty traded in 20 points small range well above of 5500 on last session…which is indication of big move …

EOD nifty chart having three channels . horizontal and 2 slanting channels . 2 channels are providing support but red channel is indicating that support will be at 5435 …price movement of next week will give further confirmation but few indications are there which are indicating for reversal or range bound market ahead .
when ever trend reverses volatility increases and we saw that nifty traded in range of 100 points and in last three sessions candles ended making bullish harami and hammers looking like tristar . If reversal will confirmed nifty may fly to 5597 5650 5750 ..we are looking for it.
hammer /spinning bottom spotted .
RSI started moving up trading at 38 see last week – it was below 30 . just compare both charts

5 years weekly chart is indicating that nifty is trading at 50 week moving average fib level and spinning bottom RSI is trading at 30 seeing it real traders avoid fresh selling and start accumulating stock ..spinning candle indicates indecision . seeing all this we can expect for range trades or reversal in trend if nifty will sustain above 5500 …if 5500 will break next fib support is spotted at 4904 ..

Seeing all this we can say
above it bulls will dominate and and bears below it.
5435 5325 and 4900 may be seen on breaching of it ..
up side targets are
Nifty macro and micro analysis using weekly and eod charts for week ending 10 April 13

EOD nifty chart having three channels . horizontal and 2 slanting channels . 2 channels are providing support but red channel is indicating that support will be at 5435 …price movement of next week will give further confirmation but few indications are there which are indicating for reversal or range bound market ahead .
when ever trend reverses volatility increases and we saw that nifty traded in range of 100 points and in last three sessions candles ended making bullish harami and hammers looking like tristar . If reversal will confirmed nifty may fly to 5597 5650 5750 ..we are looking for it.
hammer /spinning bottom spotted .
RSI started moving up trading at 38 see last week – it was below 30 . just compare both charts

5 years weekly chart is indicating that nifty is trading at 50 week moving average fib level and spinning bottom RSI is trading at 30 seeing it real traders avoid fresh selling and start accumulating stock ..spinning candle indicates indecision . seeing all this we can expect for range trades or reversal in trend if nifty will sustain above 5500 …if 5500 will break next fib support is spotted at 4904 ..

Seeing all this we can say
5535 at spot is crucial …
above it bulls will dominate and and bears below it.
5435 5325 and 4900 may be seen on breaching of it ..
up side targets are
Nifty macro and micro analysis using weekly and eod charts for week ending 10 April 13
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