Nifty neither ready to go up nor ready to go down. If we see the chart we may notice that nifty gradually makes ascending triangle pattern. What good is that it trades above 20 DEMA. So I'm inclined to go bullish. Once the stiff resistance of 17980-18000 breaks it would surely go towards 18200.
From the chart it's clear that Daily chart has clear support on 50D SMA and Weekly Chart has clear support on 12 MA. At Rs 314.00 it has major resistance. Once it breaks this level than it will fly to next level. Let's wait and watch.
Still some correction is waiting from this level. Wait for perfect time to get entry. Daily chart depict the clear signals that it might go for further correction. It will not sustain the the present price.
