Nifty is overslod, but at the same time last week as well as last day of the last month close suggest technically negative on those larger time frame.If it is turning positive on oversold basis it has to turn positive on DAILY basis by closing above 6125 at least. Holding earlier low 6027 is also positive sign.
As expected there was not threat to 6100 psychological level since the opening of the market. Taken long @ ORB as well as PIVOT point @ 6178. Now RBI has given positive surprise to market. So NS might heading towards 6300. Will review there long position.Today will watch NS 6175 if gone there in remaining session. (chances are remote.)
