NIFTY SPOT

Nifty touched 50 days SMA in daily chart and trading near weekly as well as Monthly support area . and Oversold in stochastic indicator indicates bullish is still active but before taking position we need a bull candle in daily chart then may go upward .

      From here my thinking says nifty may touch 6400 levels very soon then see a huge downfall from that levels may be 5700 levels.on the downside . so i am very bullish on PSU bank (from here CANBANK looking very good rally is there in short term  pattern as well as inaxisbank,relcapital,bob,sbi etc.)