Niftytrendanalysis
Negative Divergence in Nifty Daily on 13th Sept HighNifty Daily creates a negative divergence on 13th Sept, where price attains a HH without RSI follows it (see the brown circles in price/RSI).
Per common wisdom, negative divergence needs to correct below the previous swing low (29th Aug @ ~17200) to correct the divergence.
Now how far?
Well the next Fib support is at golden ratio ~17000.
Just empirical - whatever eyes see in chart.
Nifty is LONG as long as it's not breaking 15700 More than 1 year chart is showing that, Nifty is about to go to 16600 from here..
Excellent Risk/Reward ratio.. Please check the chart for other details.
Note: Please be cautious and see how market is moving tomorrow, if 15700 breaks, then this view is invalid.
NIFTY FUTURES 01 JULY 2022Nifty on Friday 29th July 2022, Gapped up and stuck into my zone, consolidated for the whole day and then gave a good break out from the zone. That's the power of Zones.
Kindly trade only from my zones and levels to get proper entries and stop losses. We have got many Supply zones above, hence if Nifty goes up, it will have a slow momentum as compared to last week. Kindly note the same.