NSE:NIFTY   Nifty 50 Index
Today nifty made all time high around 15014 level but traded in a tight range today. If you look at the daily chart, there is divergence in the RSI value of previous swing high and today's all time high. The RSI divergence suggest that there might be a short correction in nifty. If nifty shows a correction, then apply buy on dips strategy. On daily chart, nifty has a good support at 14750 levels.If nifty continues to rally up, then wait for 15000 level to break which is also a strong resistance for nifty according to open interest and 15min TF. Wait for nifty to break 15000 level with a strong bullish candle and all the RSI value above 80. I use RSI 3 and band 80-20. The next targets for nifty according to OI are 15100 and 15200 and the highest OI is seen at 15500 levels. So wait for the channel to break either on the upside or downside. I will post my 15 min TF analysis as well.
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