Nifty Short 23rd April 2018On the daily chart it seems like its time for a correction.
- Dojis & narrow range candles with low volumes
- If this is a H&S pattern then perhaps the neckline level is achieved and it is heading for the shoulder
- RSI/Price divergence on 1hr/30min charts
- SL could be above 10700
Ref to my 30min chart dated 23rd April 2018
Nify50
Sell on Rallies market till #NIFTY crosses the 10250 barrier.Nifty is afloat clearly because the Mutual Funds cash is soaring and they got too much capital to drive the market but then again this also calls for a crash like situation when they decide to sell and then the real fun starts for the traders not so much fun for the investors though.
One can go long if Nifty manages to close above 10250 and we're in for a good 200-250 points move from there on.
Also if Nifty manages to breach yesterdays low of 10124 we can see the levels of 10050.
So trade accordingly and check the other levels on chart.
Cheers!