Nifty Technicals for Week starting 21 March

Nifty Hourly Chart

 

Nifty Hourly chart is moving in a channel forming Lower Highs and Lower lows as seen in the chart.
Stochastic is in Oversold zone which indicates we can have a bounce for time being which should be sold.

Indicators can remain overbought and oversold for an extended period of time.

Support of Trend line comes @5320 which should hold for market to bounce. 

Nifty Daily

 Nifty Positional trading system has generated a SELL once again last friday with a crossover of 5 EMA with 20 SMA on daily charts.

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