Nifty Weekly View

Nifty rallied almost 6% from Tuesday low of 4786 and being an expiry week rallied 4 trading session out of 5.
For the coming week as we can see from the Daily Chart attached we have 2 resistance visible on chart.

1. Middle Bollinger band where we are facing resistance which is placed around 5077
2. Trend line Resistance which is placed at 5110 levels.
3. RSI is showing negative divergence and still forming lower highs and lower low.
4. Market a bit overbought on hourly charts and can correct.

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