Stochiastic is in over bought zone
and divergence(hidden) there.
it is likely it may correct a little to touch 20 dma.
closing below 20 dma will be negative for it.
clear divergence between bank nifty and nifty is there.
Nifty is clearly trading above 200 dma where as bank nifty is drifting towards 20 dma.
how ever if nifty has to rise bank nifty must perform.
when metal index performs bank nifty underperforms.
They change their role quite often a time.
For the last 2 days metal index is out performing .
particularly ferrous metals.
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and divergence(hidden) there.
it is likely it may correct a little to touch 20 dma.
closing below 20 dma will be negative for it.
clear divergence between bank nifty and nifty is there.
Nifty is clearly trading above 200 dma where as bank nifty is drifting towards 20 dma.
how ever if nifty has to rise bank nifty must perform.
when metal index performs bank nifty underperforms.
They change their role quite often a time.
For the last 2 days metal index is out performing .
particularly ferrous metals.
Don't forget to like this post.
connect with me by following me .
