NIFTY Trend Score

NIFTY (Last: 5205.10, down 37.60 points)

NIFTY’s failure to cross 5250 resistance took its toll as the Index fell 37.60 point to close the day at 5205. NIFTY will confirm a short term downward tend if it closes below 5200 today as the two weeks moving average is placed at 5230 and 14 day RSI is at 51. However, the long and medium term trend remains up.

Overnight weakness will likely to continue today as the Index will face selling pressure around 5225 resistance while a decline below 5200 will open the way for it to test 5150 level. Traders and investors are advised to adopt a buy on dips strategy.

Trading Strategy: Buy on dips in stocks with positive Trend Score and sell on rise in stocks with negative Trend Score. Keep a close watch on the "Trend Score Change" column to get the idea which way the Trend Score is heading (Its getting better or worse).