Nifty - Conservative sell at the red arrow
In line with the view shared in late december for a long.. (in.tradingview.com/chart/NIFTY/n5tkFfzP-Nifty-Long-term-Buy-updated-chart/) , a conservative sell near the upper arrow marked in red from the range of 8905 to 8945 levels.
EW Labelling :
Primary : 3.1 is completing - critical supports around 8700 and 8550 levels
Alternate : Correction in a form of a triangle with D wave going on.
Clean negative divergences in RSI 9, 14 periods and MACD ( Slow and Fast ) indicators.
Stoploss = Weekly close above 8960.
EW Labelling :
Primary : 3.1 is completing - critical supports around 8700 and 8550 levels
Alternate : Correction in a form of a triangle with D wave going on.
Clean negative divergences in RSI 9, 14 periods and MACD ( Slow and Fast ) indicators.
Stoploss = Weekly close above 8960.
Trade active
Stoploss = Weekly close above 8960 levels.Trade active
Price reached the red-arrow and right at the SL point and sold off. Developing candlestick for the day = Shooting star. Need a follow up now to turn the trend to DOWN.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.