RSI Divergence on Weekly Chart

Aug 4, 2021

RSI has made a huge wide divergence and has almost touched 70 which on all time frames is overbought. Apart from that the divergence is also quite significantly big. Nifty has to give a gigantic effort to nullify this divergence and scale higher. On daily chart also RSI is at 69 which also shows overbought condition. Nifty is now in such a stage where a reversal seems feasible.