Nifty is trading in situation to decide its direction for June series. Tomorrow we can see a lackluster movement in the market. Nifty has failed to sustain above its support of 4985 of 61.8% Fibonacci retracement level which is placed in the range of 4538 to 5700 during December 2011 to February 2012. Today it has closed at its support of 7 days EMA and we can expect trading for tomorrow around 4900-4950. We can see upward move in the market in June Series due to strength of nifty on its RSI where it is making higher highs and higher lows for some days and we should wait for breakout of trend line drawn on RSI . Moving Average crossover of 7 and 21 periods may take place if nifty trades at current prices for one or two days. MACD has given a singnal of crossover and we need to confirm a uptrend in nifty by looking at price movement yesterday . I am much optimist about market due to these technical indications and I think market has discounted fully all the bad things . So keep watch on market and ready to ride on bull drive. Buy for this June series as may is going and bulls will take over the charge in June.
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