NIFTY is still boxed inside the volatility band. A close below 5217 will have its reach to 5008 and 4750. The nearest resistance is at 5426.
Today at 10 AM, the NIFTY hourly chart went into the bullish mode, making all NIFTY signals of www.ftalarms.com in Bullish mode. For the last two days the Hourly chart had signaled a Sell. However, the rally today could not breach the 62% level of the last two days drop. On Monday, at 10 AM, if NIFTY close below 5276, the Hourly chart will go back to SELL mode, whose immediate target will be 5210-5200.
