Selling in Nifty & Bank Nifty The Two Major Indices are expected to have a substantial bearish breakdown as the RSI indicator shows Index making lower Highs, However the Price making Higher highs indicating bearish divergence. NIFTY 50 is expected to move lower once it breaks the trendlines. WE EXPECT THE BEARS TO GET STRONGER ONCE THE INDEX MOVES BELOW 11,550.
The Index makes higher highs and the RSI Indicator forms lower highs indicating a bearish/negative divergence. BANK NIFTY EXPECTED TO HAVE SHARP BEARISH MOVE ONCE IT MOVES BELOW 29,550. The Index expected to fall before the election result!!!!!!!!!!!
Nifty formed a bearish candle from 50% fibonacci level. A short pullback can be expected. Also, the stochastic indicator showed a bearish divergence further showing the possibility of a pullback.
Its a cliche but falling in NSE:NIFTY is inevitable. Bearish divergence in Nifty is clearly seen that indicates a short term but a very steep fall in next week. Year end closing will be bad hurting Returns on Investment of lot of mutual funds.
Short in opening trade on monday above 9980 (or upto 9965) with a target of 9933 (t1), 9686 (t2), 9548 (t3).
A stop loss...
in weekly time frame it is at strong resistance zone, also regular bearish divergence is formed.
It may come to 1670, 1600 level.
Note: this is not a short selling advice, as future trading is quite risky.