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ParimalDevnath
Feb 6, 2019 2:09 PM

Nifty Education

Nifty 50 IndexNSE

Description

Breakout of Ascending Triangle. With this breakout, one may like to be cautious for two reasons: a) Nifty at Golden Ratio, and b) a Negative Divergence is developing which is yet to trigger. If these two obstacles are cleared by bulls, Nifty may eventually rise towards 11400+ failure of which Nifty can go down below the trendline. First sign of weakness will be a close of the trading session below 11000 which is a good support as per OI table. Though OI Table looks quite bullish, yet bears are still hopeful of protecting 11000.
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