NIFTY Topped out or Momentum Break?

NIFTY: Daily price action has created a resistance on the chart. Now 12015 (spot) levels will be acting as resistance. The dominant trend is up, the prices are trending above the kumo indicating strength. Momentum has slowed a bit, however it is expected to pick up in the coming sessions if 11820 holds on closing basis. Below 11820 Nifty may drift down 11560 levels. Our “ProRSI moblile trading application has been launched on Play Store and IOS, get high probability trading ideas in equities, futures and options. Download Now.