ipuneet

Nifty has turned negative on 15,30 & 60 mn. Heikin Ashi Candles

NSE:NIFTY   Nifty 50 Index
After a massive rally of 899 points in two trading sessions,

Nifty has been in overbought range for some time
RSI (30 mins.) showing a little bit of tiredness already.
CCI (30 mins.) has already give a reversal signal.
Heikin Ashi candles have given a clear Sell Signals.

One can go short keeping 11660 as a stop loss.

Comments

Can you please intimate target for nifty
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ipuneet krihar
Goodmorning Good morning, I trust RSI and CCI more for swing trades, will recommend a short position only when there are confirmed sell signals on these or other indicators. Nifty has gone up about 900 points in last two trading sessions, it certainly does not have the support of excessive short positions, anymore.
A 150-250 points correction is on the cards, Heikin Ashi charts are showing weakness but I advise take position on confirmation on RSI indicator and keep your targets around 11380-400 levels.
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krihar ipuneet
Thanks
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