AyushSinghba

Trouble ahead for Nifty?

Short
NSE:NIFTY   Nifty 50 Index
-Nifty has been in overdrive mode and has risen over 6% in little over two weeks. A swing low is overdue.
-Steep rising wedge pattern on Nifty's 75 min chart.
-Index has failed to cross the resistance zone and has formed a double top pattern.
-5 point bearish divergence on RSI .
-6 point bearish divergence on Stochastic .
-5 point bearish divergence on MACD .
-Nifty could take a breather soon and fall to 10450-480 levels.

This is not a trading advice. Do your own due diligence.
Trade closed: target reached
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