On Monday trade Nifty closed at 9794.15 with gain of 83.35 point. On daily chart nifty forms a inverted hammer pattern and closed above the short term 5 Day EMA of 9792.40 on hourly chart, may signals some more strength to the bull trend in the short run. As mentioned in my last report nifty above the level of 9775 may face the next resistance at 9810 level and that we saw on Monday trade. So positively holding above this level of 9810 nifty may trend up to 9860-9892 in the short run and above this 9960 may act a crucial resistance level in the coming time.
On the contrary, war on North Korea is still weighs on global market. Technically RSI is ranging below the 50 mark and nifty price is trading below the 20 day EMA of 9905 on daily chart may give enough room for the bear to act. So breaking below the immediate support level of 9775 with volume price may correct down to 9750-9710-9660 in the short term.
Resistance level above 9810 price may trend up 9860-9892-9960 level.
Support level below 9775 price may correct down to 9750-9710-9660 level.