srikartiram

NIFTY | Looks like downside is limited

NSE:NIFTY   Nifty 50 Index
NIFTY | Looks like downside is limited

I see RSI divergence is starting to occur in 15 min's time frame. Be careful if you are shorting.

CMP : 12740
Trade closed: target reached: 12740 to 12825 - almost 85 points jump :)

Comments

it is however, forming negative divergence on hourly-2 hourly charts; so the pending correction would last over multiples of that time period
+1 Reply
@nsb64y, Correct - the chart i shared is 15 min's time frame. It gave the super bounce last day as per the setup. Although i'm not bearish i expect some small correction or sideways to be formed.

Perfect time to Sell OTM CALL options. Sold 13300, 13400 in December !
+1 Reply
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