Nifty is trending in upward moving channel. Price has broken the lower line of the channel. But today price has closed above the lower line indicating bullishness. RSI shows strength by forming hidden bullish divergence. Hidden bullish divergence occurss when price is making a higher low (HL), but the oscillator is making a lower low (LL). I expect Nifty to reach 9250, 9300 and 9375 in coming month.This is general view of nifty moevement. Even the world market looks dull, Nifty is strong enough not to be dragged by them.
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Nifty is moving upwards!
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mannudatimepass
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mam,
Can you tell me which range (of RSI) is more suitable for bullish divergence....
means hidden bullish divergence is more successful in above 50 RSI or below 50 RSI...
thankyou
vanathi
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@ekkumannu, Hidden divergences are more effective in support/resistance zones. I look for that only. I have not checked whether hidden bullish divergence is successful above or below 50 RSI.
Can you tell me which range (of RSI) is more suitable for bullish divergence....
means hidden bullish divergence is more successful in above 50 RSI or below 50 RSI...
thankyou