Nifty = SELL signal continuing on 9/34 EMAs on Index and RSI
Though certain traders or investors are still finding it difficult to digest, such a fall due to a fatal virus, that has caused only a few casualties and infections outside of China.
I guess the sooner we come to terms with this, the better it will be.
On very reliable 9/34 EMAs on Index and RSI System, Nifty as well as Bank Nifty are running in SELL Since Jan 30th, the post budget recovery rally has shifted it into consolidation phase for a brief period, but with the recent fall has made it give a sell signal again on Feb 14th.
CAUTIOUS approach is a must guys, though Corona is not looking that serious at this stage, but we have seen many times in the past - markets do move ahead of times.
I am saying this because almost all major markets of the world have turned bearish in the past few days. Commodity markets are moving in tandem.
This may not be an overaction, may be the financial markets are sensing something, that is not known to us.
Following technical signals is so important.
I guess the sooner we come to terms with this, the better it will be.
On very reliable 9/34 EMAs on Index and RSI System, Nifty as well as Bank Nifty are running in SELL Since Jan 30th, the post budget recovery rally has shifted it into consolidation phase for a brief period, but with the recent fall has made it give a sell signal again on Feb 14th.
CAUTIOUS approach is a must guys, though Corona is not looking that serious at this stage, but we have seen many times in the past - markets do move ahead of times.
I am saying this because almost all major markets of the world have turned bearish in the past few days. Commodity markets are moving in tandem.
This may not be an overaction, may be the financial markets are sensing something, that is not known to us.
Following technical signals is so important.