Nifty recovers from days low of 5826 - RK Global

Nifty recovered from days low 5826 and ended with a perfect hammer candle just below that down ward trend line resistance. 5800 level again appeared as the most justified figure for the bulls and they took it up to 5912 to end the session with a mild gain. So needless to say, trade with bullish bias is the advice from our end. But, slight clarification is needed; we clearly say major upside would get wide open if it successfully penetrates 6000 level. And, this phenomenon is directly related to USD/INR (spot) breaching down 61 levels. But, analyzing global scenario we believe that's the most likely scenario as of now. So, at the end again we recommend trading with positive bias.

Nifty recovered form days low 5826 and ended with a perfect hammer candle just below that down ward trend line resistance. 5800 level again appeared as the most justified figure for the bulls and they took it up to 5912 to end the session with a mild gain. So needless to say, trade with bullish bias is the advice from our end. But, slight clarification is needed; we clearly say major upside would get wide open if it successfully penetrates 6000 level. And, this phenomenon is directly related to USD/INR (spot) breaching down 61 levels. But, analyzing global scenario we believe that's the most likely scenario as of now. So, at the end again we recommend trading with positive bias.

Source : Equity Bulls

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