raghavendrakumart

Nifty - Conservative sell at the red arrow

Short
NSE:NIFTY   Nifty 50 Index
4
In line with the view shared in late december for a long.. (https://in.tradingview.com/chart/NIFTY/n...) , 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.
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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