Nifty settles with loss of 36 points - Aditya Birla Money

NIFTY traded positive towards resistance near 5950 initially however witnessed selling pressure and turned lower thereafter to settle with loss of 36 points last session.

Oscillators RSI (14) MACD (12/26/9) are gradually turning down on the hourly charts but are attempting to regain momentum on the daily charts.

Hence the index is likely to trade choppy and consolidate within the range of 5950-5820 the coming 2-3 days before it could witness any further significant down/up move.

Only an immediate close above 5970 could continue to sentiment firm towards the January highs negating the consolidation possibility.

Resistance is seen near 5910 and support near 5820, NIFTY could trade mixed within these levels in the near-term.

Source : Equity Bulls

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