kartik_subramanian

A correction on the cards

Short
NSE:NIFTY   Nifty 50 Index
From 18th May -27th May Nifty had shown a negative RSI divergence on the hourly chart. But it did not work out and Nifty kept moving higher.

Once again there is negative RSI divergence on the hourly chart, it could correct this time.

Short Nifty at current level of 14750 or near 14800

Stoploss for this trade is hourly close above 15900

Target on the downside is 15200 which is the level of 20 DMA.


Trade active: Trail stoploss to 15800 on hourly closing basis
Trade closed manually: Trade not working out as momentum on downside is missing
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