Tri Star Doji! Will it allow nifty to make a new high? 11800 ...

The movement of Nifty was directionless this week. From last three weeks Nifty has kept traders on the edge and has been teasing both buyers and sellers. We can see a tri star doji formation on the weekly charts at resistance, tough doji does not mean outright sell, it depicts chaos and confusion. We should not discount the fact that the trend is up and yet no confirmation of any selling pressure is seen on the charts. 11800 will be acting as a strong support breaking it may lead to correction to 11570 – 11370 levels. The RSI is flat on the weekly charts, though on the daily charts we notice RSI taking a hit at the 60 levels.