NIFTY in Consolidation mode Weekly Update 2

NIFTY reached the upper line of supply area and just crossed and made a spinning top. Doji and spinning tops are the indecision areas and a probable reversal areas.

Any upward movement should be viewed with caution, as breaking the supply area is not so easy and lot of strength is required. To get conviction a few closes above this area needs to be looked into. 15350 plays an important role and holding above this is a must for upward momentum. Any close below 15350 indicates weakness in the Nifty.