Nifty has continued to stay within the broadening formation.
A cautiously positive outlook is advised for the coming week.
RSI on the daily chart was 61.03 and stayed neutral, showing no divergence against the price.
Thursday’s session is likely to see 12,350 and 12,395 levels act as immediate resistance.
The daily MACD showed a positive crossover and was bullish, while trading above its signal line.
The daily MACD continued to stay bearish and traded below its signal line.
Monday’s session is likely to see 12,295 and 12,340 levels act as resistance.
The Auto Index has slipped into the weakening quadrant and it appears to have topped out.
Friday’s session is likely to see 12,255 and 12,300 levels act as resistance.
The 12,065 and 12,100 levels are likely to act as stiff resistance on Thursday.
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