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NIFTY DAILY - BULLS CAUTIOUS

Nifty  closed in green at 5120 with the marginal gains of 17 odd points on the cards.The overall market breadth was positive with 996 advances to 552 declines.Markets gave a muted opening with absolutely no surprises,as advocated yesterday nifty gave a range bound session.This skepticism may continue for few more sessions.
                      The fact is we are bullish  but we are literally lacking the catalyst needing to fuel the trend.We need to accept this and move on ,since  frequently attempting to reckon the further trend on the volatility basis would be futile.Nifty resuming the trend is inevitable ,but we should offer the markets to adjust to the current global ,domestic,financial as well as political turmoil.
                                                                                         After factoring the the events,i am sure that things will get more clear,which would lead us to a definite strategy to our portfolio.From past 2 days skepticism among participants is being clearly reflected in the charts.Hence markets are stuck in the range of 5050 to 5200 on upper side.
                               On the daily charts nifty is trading with a positive crossover and  has surpassed the zero line supporting bullishness,While the RSI is  moving sideways after crossing 50 levels.Looking at the indicators it is clear that bullishness still prevails but we need ingredients to furnish the trend.As long as the 40 DMA is holded we move on with a positive bias and take a buy on every significant dips.

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