Nifty - 2 Weekly indecisive candles, bearish trendline on RSI.
The Weekly candle stick patterns and RSI are indicating a pull back or intermediary top formation.
I have been saying it for past few days, certain short period indicators are showing weakness.
CAUTION is important guys, keep your long positions light and an eye on trend reversal signals. Friday's last hour fall was significant and must have been caused by large institutional / big players selling.
WAIT for confirmations to initiate shorts.
*"Puneet_9EMA_21_RSI"* is a simple and reliable indicator, many of us have been using it for a few months as it has given some reliable and timely "Enter" and "Exit" signals, during the past three months. Please backtest yoursrlf - it will give you confidence in trades.
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This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions.
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Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
I have been saying it for past few days, certain short period indicators are showing weakness.
CAUTION is important guys, keep your long positions light and an eye on trend reversal signals. Friday's last hour fall was significant and must have been caused by large institutional / big players selling.
WAIT for confirmations to initiate shorts.
*"Puneet_9EMA_21_RSI"* is a simple and reliable indicator, many of us have been using it for a few months as it has given some reliable and timely "Enter" and "Exit" signals, during the past three months. Please backtest yoursrlf - it will give you confidence in trades.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.