The Nifty closed near the highest point of the week at 5654 and appears to be in a short term bullish mode. The only dampner is the stochastic which along with the RSI is suggesting an overbought market. However, if after an initial dip down on monday, the Nifty holds the 5550 levels, and breaks the 5700 levels, the march series may expire on a bullish note with fresh buying. Otherwise the Nifty will close the series between 5500 and 5600 levels. However, if the 5475 level is breached, which seems unlikely as of now, then a the downtrend may resume.
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