RSI Edge analysis for trading Nifty on 6th March 2018
Nifty – As updated in the last post, Nifty held the 10340 levels (support). The daily future charts has a doji formation. A move below 10320 will be bearish. As long as Nifty hold these levels, fresh shorts are not recommended. Risk seekers can go long in the index on a close above 10400 levels, keeping stops at 10290. Nifty may move to 10525, 10580 and 10650 levels from here. In short, RSI Edge suggests a pullback in Nifty from the current levels.