The economic data coming out of US has been very positive lately - including ISM manufacturing & non-manufacturing data and non-farm payrolls. Both of these are signifying an expanding economic environment. In that backdrop - Nifty has some reasons to continue finding support and RBI's move to cut the CRR is also going to inject a lot of extra liquidity in the financial system.
Here are the Nifty index hourly and daily charts.
|Nifty SGX Futures Hourly Compressed Trend Chart|
|Nifty Index Daily Compressed Trend Chart|
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