vanathi

Mighty Nifty - What Next?

NSE:NIFTY   Nifty 50 Index
238 5 8
Nifty             is moving sideways without giving us a clue about how it will move further. As per Dow's theory any major reversals will be confirmed if both indexes are in agreement. For any strong trend Nifty             and Bank Nifty             should be in agreement. If Nifty             and Bank Nifty             travels in opposite direction, then primary trend wont develop. There is no trend when they conflict each other. We are traders and we need clear trend. RSI shows the momentum is getting weak, but the price action is sideways. Now we have to wait and watch the market until it gives us a clear direction.
As per Dow's theory "line indicates movement". Nifty             is travelling in line, we will get good movement soon. https://in.tradingview.com/chart/QtD56IkU/
good explained
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vanathi jayramswami99
@jayramswami99, Thank you.
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I like how you explain. Good to learn new things or remind the forgotten learning. Keep sharing.😉
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vanathi DineshKBhasin
@DineshKBhasin, Thank you. Sure will share my learnings here.
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@vanathi, you are welcome.
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