It looks Like RSI on Nifty Hourly chart has cooled down and is set for another rally. Once the Nifty and if the Nifty is able to cross 20946 and close above it on hourly candle, we may see Nift rise towards 21026, 21125 or even 21254 within a short span of time. Supports for Nifty on the lower side are 20867, 20813 and 20763.
Mid-Channel support and 50 hours EMA on Hourly Parallel channel is Broken and now the next support for Nifty is only near 19633. Other supports for Nifty are near 19572 and 19516. 200 EMA which will be like major support for the existing rally is near 19289. Below 19289 the Rally may fizzle out and bears will strive to take control. Resistances on the upper side...
