Positive divergence with RSI on daily chart of Nifty 50 spot gives an indication that in the short term Nifty bearishness may be over. On fundamental side inflation has moderated in India in the month of May (unlike the US) compared to previous month, April 2022.
Disclaimer: The chart has been published for educational purpose only. You may consult your financial advisor before taking trade.
Good day Sir, I find your research quite insightful. According to me, tomorrow nifty can open from neutral to bearish considering USA 15th June pending data as FII are unloading their shares. Cheers!!!
NACHATUR
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@meetujugal, Thanks! My purpose for posting the chart is that shorting Nifty may not be a good idea.
Cheers!!!