Nifty50 has started making lower high lower low structure (LHLL) on 10 DEMA
. At the same time , 10 DEMA
has crossed below 20 DEMA
. On1st June June 2020, 10 and 20 DEMA
had started making HHHL structure which was the confirmation of bullish trend
. 10 and 20 DEMA
are diverging as 10 made LHLL but 20 is still in bullish
mode making new high.
Short term view is bearish
till the time Nifty
doesn't move abv 15430 or 10 DEMA
starts making higher high, whichever comes earlier.
Disc : it's not an investment advice to buy or sell