Nifty entering decisive phase as importnat resistances approach.Nifty 50 IndexNSE:NIFTYHappy_Candles_InvestmentNifty is nearing some most importnat resistances which will decide if the trend breakout can sustain or not. These resistances are indicated by the red lines in the chart. Also note that the supports for Nifty now remain at the green lines and the Mother and Father lines as depicted in the chart. Most coveted Mother and Father line supports are between 23603 and 23637. If these supports are broken by any chance in unlikely circumstances than Nifty can fall again towards 23100 levels. Right now Nifty RSI is look little bit overbought so the chances are that Nifty might consolidate in the current range before next leap. Incase some heavy wieghts of IT or Banking or Energy pull Nifty through the 4 resistances drawn in the chart we will have much upside and old highs can be matched. Things starting to look positive but there is a need to remain cautious. Things are still settling down on the West Asia front. Crude prices are falling. Macro factors remain cautious to positive. If FIIs can resume buying from here there is a possibility of good times ahead. Otherwise the upward march will be slow. Very intresting week/couple of weeks ahead for Nifty. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work or they have worked in Past Present of future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Charts do not represent anything. We are just showing positive and negative aspects of the stock. Equity investment is subject to risks. I or family members might have positions in the stocks that we mention in our educational posts. We are not a SEBI registered Research analyst. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.