Nifty Analysis

Nifty futures bounced back from the expanding triangle support trend line and closed with the good gains. On the higher side if price breaks 4580 levels then it may go and touch the resistance line of the expanding triangle. On the lower side 4560 to 4540 is the support zone. Now today’s low may act as good support. Below is the 15 min chart of nifty futures:

On daily charts nifty made a Piersing bar (a green bar which closed above the mid point of the previous day's bearish bar) contradicting the evening star, tomorrow may be the crucial day to know the trend of the market in the short term. If low of the bearish bar or todays low is takendown tomorrow, then down trend continues. Below is the daily chart of nifty futures: