OptionsRising

Stocks too hot before summer - trend line broken, lower supports

Short
NSE:NIFTY   Nifty 50 Index
On a weekly chart, for context, you will see how much Nifty has risen since 2018. Here with changing interest rate and economic recovery conditions around the globe, Nifty wants to cool off. Nifty just broke support trend (white line), and I have marked three lower support levels (dashed lines).

Also RSI is below 50 again. If it gets below 33.33 that is a strong bearish signal.

I recently included Nifty in a comparison of market performance, and Nifty was highest, while only China had turned lower. China might be leading here, which means India and US markets should be going lower (see linked chart).

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out