on weekly chart its forming shooting star .(bearish)
fii have brought 1100 cr cash i.e supportive or not so bearish .
dollar is moving up again ,a concern for indian markets
till now it has respected the trend line that is good .
RSI indicates that it has still not in bear mode as we can see rsi is also above 60
MY VERDICT:
its time to see price action.
if it remains above trend line we may see a sideways market .and it will be healthy in uptrend .
longs should be taken after 17960 crossed with good volumes .
shorts are good choice if it beaks 17600
thank you
comment what is your view . in short
fii have brought 1100 cr cash i.e supportive or not so bearish .
dollar is moving up again ,a concern for indian markets
till now it has respected the trend line that is good .
RSI indicates that it has still not in bear mode as we can see rsi is also above 60
MY VERDICT:
its time to see price action.
if it remains above trend line we may see a sideways market .and it will be healthy in uptrend .
longs should be taken after 17960 crossed with good volumes .
shorts are good choice if it beaks 17600
thank you
comment what is your view . in short