bijoy2526

BANK NIFTY forms lower low and lower high

NSE:BANKNIFTY   NIFTY BANK
in the hourly time frame it has bounced from
over sold condition and there was hidden divergence.
let me see if I can attach snap shot of hourly time frame.
red line in the stochastic pane is the level where bank nifty
can take support if it falls.
In coming days market may be volatile .
I am not at all bearish but some correction may take place before that bounce.
today's bounce is not significant for bank nifty to continue its uptrend.
if it over take today's we can be convinced that up trend has continued again.
Comment: In hourly time frame stochiastic dipped in to over sold condition.
clearly there was hidden divergence between price and oscillator.
price forming higher high where oscillator is forming lower low in over sold condition.
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