sykhan

NIFTY Daily Chart - Observations

NSE:NIFTY   Nifty 50 Index
Some observations on NIFTY Daily chart .

From NOV 18 to June 19 (till date) as seen, we can see HIGHER HIGH AND LOWER HIGH. I split this in two parts NOV18 TO MAR 19 and from MAR 19 to JUNE 19 (till date)

Part - 1 NOV 18 to MAR 19:

Index level making HIGHER HIGH AND HIGHER Low and the Strength ( RSI ) also has upward slope, means this up move was with strength support.

Part-2 MAR 19 to June 19 (till date):

Index level making HIGHER HIGH AND HIGHER LOW and Strength ( RSI ) is making downward slope (observe blue lines in chart) , means this up move is not supported by strength.

Till Strength regains, NIFTY is directionless.
Key support level yet to be identified.
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