Clearly an uptrend and a gap-up opening will pull RSI above 50 to confirm a bullish trend. I've been saying that it won't be surprising to see Nifty hit new highs.
Please note that this is not a trading level. It's already high to buy and risky to sell so No Trade today
Please note that this is not a trading level. It's already high to buy and risky to sell so No Trade today
Comment:
If you have studied this chart you would see that there is a resistance (purple line) drawn at 15275.75 and Nifty corrected itself from highs of 15262. The importance to know and understand support and resistance is so we know where and what trade to initiate. We can go long in Nifty if we get a chance at around 15150 with SL below 15130 (black line at 15139.95 is the intraday support) as we can see a short covering. If Nifty manages to break and sustain above 15275, we can witness new highs today itself