Those of you who have been following my ideas for some time, know how reliable I find the Nine period EMA over 21 period RSI on a two hour Nifty chart.
As you can see, the system has given a clear SELL signal around 12:00 P.M. Nifty near 11640 level.
I would hold my shorts till there is a clear BUY signal on above EMA over RSI system. 11580 is another crucial level for the Bulls, as Nifty will come below the trendline connecting previous three TOPs as it reaches this level (shown as thick black line on Chart).
----------------------------------------------------------------------------------------------------------------------------------------------------- This post is not a advice to speculate using leveraged products, one must understand financial implications before taking any position. ----------------------------------------------------------------------------------------------------------------------------------------------------
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