Nifty 50 IndexUpdated NIFTY RSI bearish divergence
we can witness rsi bearish divergence in 15min chart and nifty consolidating after a gap up opening. It shows a lack of buying momentum.NIFTY
nifty respecting the uptrend line multiple times .so the nifty below 14920 will be trend line breakdown confirmation which can trigger selling momentum. 15min close below 14900 will give us a quick fall. 14860 will be the target.
even if there is a gap up open tomorrow.15min close above 15050 is considered as upside breakout only. 15000-15050 is good defence point for bears.
today's data shows fii are bearish on index futures and stock futures.
i strongly believe there will be a dip(corrective wave) to 14770-14800 or even 14700 before the 15050 mark is taken out.
Fii have never bought heavily for the last one week if markets wants to move significantly higher FII needs to be on the buying side.
sgx nifty is currently trading at 14928 which is 65 points below its previous close.
NIFTYnifty respecting the uptrend line multiple times .so the nifty below 14920 will be trend line breakdown confirmation which can trigger selling momentum. 15min close below 14900 will give us a quick fall. 14860 will be the target.
even if there is a gap up open tomorrow.15min close above 15050 is considered as upside breakout only. 15000-15050 is good defence point for bears.
today's data shows fii are bearish on index futures and stock futures.
i strongly believe there will be a dip(corrective wave) to 14770-14800 or even 14700 before the 15050 mark is taken out.
Fii have never bought heavily for the last one week if markets wants to move significantly higher FII needs to be on the buying side.
sgx nifty is currently trading at 14928 which is 65 points below its previous close.
Note
nifty opening at 14800 levels. As i said there was lack of momentum and divergence was there.do not short immediately look at the price action and play accordingly
Note
NIFTY TOOK SUPPORT AT 14770 IN THE MORNING; NOW TAKING SUPPORT AT 14800THIS RANGE WAS MENTIONED CLEARLY YESTERDAY
Note
IF IT BREAKS DAY LOW 14700-14724 WILL BE A VERY STRONG SUPPORT.Note
ABOVE 14870 BULLISH MOMENTUM WILL BE THERE
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Disclaimer
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.