Nifty is making higher highs but indicators like RSI, MACD, Stochastic are making lower highs. Apart from that the rising channel support line is broken and is now working as a resistance. Now 17950 stands as a huge resistance. From here within next one or two sessions Nifty will start a moderate correction. Disclaimer: It is just a personal view.
Note
Nifty is showing exhaustion. For this time RSI (67.46) seems not to cross 70.Note
Long should be avoided for the remaining two daily sessions of this week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.