BANKNIFTY futures point to a steep correction in coming weeks
- Since early November, Banknifty futures have been steadily rising even as volumes keep dropping on a daily basis.
- RSI has been in overbought zone since end of November.
- Price has made a higher high but MACD has diverged making a lower high.
All these point to a steep correction in the coming weeks, imo.
- RSI has been in overbought zone since end of November.
- Price has made a higher high but MACD has diverged making a lower high.
All these point to a steep correction in the coming weeks, imo.
Note
Work in progress!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.