Weekly chart ended making doji at over bought zone
consolidation of 6 weeks range 5640 5740
Traders were cautious
Nifty range break is possible on Monday
5400 or 5900 as per technical indicators within 10 sessions
wait and watch for RBI policy
Nifty daily chart is slowly turning bearish and expecting trend line support at 5450.
positional traders may plan their trade for a target of 5450 with stoploss of 5755 closing basis if nifty close below 5700 on Monday .
Go long above 5720 for the target of 5950 if sustains above 5730 .stoploss 5660 closing basis.
Bull trap was noticed in JPASSOCIAT
