A "bearish engulfing candle" on the EOD chart of Nifty Spot, 3 n 8 EMAs intersectiong the body of this candle, RSI and stochastics giving a negative divergence, supported by higher volumes, MacdH in the negative zone, seems like a picture perfect sell for the coming session.
This apart, almost all stock derivative (except for banking stocks) are exhibiting weakness.
Nifty Jan fut should trade in the range of 5265-5180 in the coming trade session. Trading with a negative bias will be more comfortable. If Nifty manages to break 5168, the next likely support is at 5121.
Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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