Nifty Hourly 05-05-15

Hi,

So after the impulse move yesterday today was a consolidation and a doji was formed. The high of today broke yesterday’s high but could not close above however it closed above the 200 dma. For a confirmation we would like the prices to close above the 20dma which stands at 8501 and could be the next potential resistance if the price continue to move forward.

Support – 8300, 8257

Resistance – 8355, 8400, 8501

Pivot – 8324

nifty-05.05.15

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