BANK NIFTY CAUTION WEEKLY CHART ANALYSIS

AS YOU CAN SEE BLUE LINE ON TOP IS LONG TERM TREND LINE WHILE RED LINES ON CHART AND STOCHASTIC ARE SHOWING ( FOR NOW) BEARISH DIVERGENCE BUT DIVERGENCE WILL ONLY BE CONFIRMED IF CANDLE CAN NOT CROSS RED TREND LINE AND STOCHASTIC AS MENTIONED WITH RED RECTANGLE GIVES BEARISH SIGNAL MEANS RED LINE OF STOCHASTIC CROSSES BLUE AND GOES ABOVE BLUE THIS WILL THEN MEAN STOCHASTIC WENT HIGHER THAN CANDLESTICK IT WILL BE BEARISH DIVERGENCE CONFIRMATION IF NO BEARISH DIVERGENCE AND CANDLE CLOSES ABOVE RED TREND LINE TARGET IS 31419 APPROX IF BEARISH DIVERGENCE HAPPENS TARGET FOR SHORT SIDE 30220.85 GOOD LUCK
NOTE: FOR EDUCATIONAL PURPOSE ONLY DO YOUR OWN ANALYSIS BEFORE TAKING ANY POSITION

Comment:

bearish divergence?

Comment:

500 points captured today

Trade closed manually

Comment:

red rejection candle just after touching brown trendline good signal