Nifty recovers to settle at 6054 - Aditya Birla Money

NIFTY weakened to as low as 6021 initially however recovered in the end and settled with marginal gains at 6054 last session.

Momentum in hourly RSI (14) and MACD (12/26/9) is still weak however said oscillators are exhibiting mixed to positive momentum on the daily charts.

Hence index could remain subdued towards the supports near 6000/5980 in coming 1-2 days but is likely to find support there and attempt a bounce back towards 6100 and higher thereafter.

On the upside, 6080/6100 zone will continue to act as good resistance.

Only an immediate close above it will turn the sentiment positive towards 6180 negating further dips.

Source : Equity Bulls

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