Nifty possibly is forming a negative divergence on the daily charts..
RSI made lower high..and nifty is still below 200 dma
Possibly nighty is rebounding to 61.8% of the fall of 10940 odds to 10340 which is 370 points.10340+371 = 10711 odds
as long nifty is below 200 dma upmove will be negated
disclaimer: shorted nifty dec futures at 10693
Note: Analysis is for EDUCATIONAL PURPOSE only..
RSI made lower high..and nifty is still below 200 dma
Possibly nighty is rebounding to 61.8% of the fall of 10940 odds to 10340 which is 370 points.10340+371 = 10711 odds
as long nifty is below 200 dma upmove will be negated
disclaimer: shorted nifty dec futures at 10693
Note: Analysis is for EDUCATIONAL PURPOSE only..