NIFTY | Looks like downside is limited

Nifty 50 IndexNSE

Description

⋅ Nov 20, 2020 6:26 AM

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

⋅ Nov 20, 2020 7:56 AM

12740 to 12825 - almost 85 points jump :)

Comments

nsb64y

⋅ Nov 20, 2020 5:04 PM

it is however, forming negative divergence on hourly-2 hourly charts; so the pending correction would last over multiples of that time period

srikartiram

⋅ Nov 21, 2020 7:28 AM

@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 !