safri

Nifty Weekly Outlook - Bearish

Short
NSE:NIFTY   Nifty 50 Index
Hello Traders,

We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed double top pattern which also indicates the price reversal. Moreover, RSI indicator is also showing negative divergence. Considering all these aspects, we feel that in coming weeks, we may see weakness and bearishness in Nifty .

Thanks you.

Have a great weekend.

Happy Trading!!!

Comments

we r unable to accept your views on Nifty Levels for next week . We expects ..consolidation existed between 8982 to 8843 only n expecting good move for next 2 weeks towards 9060 9165 9236
Reply
Tut Tut you cannot compare RSI values which a miles apart and say its a divergence...(Go through RSI formula , u will get what I mean) , As long as 8710 is defended we are fine.
Reply
safri neneram
@neneram, I accept your disapproval to my views.

I shall not be getting into arguments about what is wrong and what's correct. But I just want to highlight that in Trading business, there isn't any CORRECT or WRONG strategies/formulas/decisions. I think, they are always GOOD or BAD. As long as your strategies and formulas are making profit for you, those are GOOD.

Thank you for the comment, I appreciate.

Have a fun weekend!!! Cheers!!!
Reply
@safri, Agree.
Reply
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