Renko is often used prior to some big events especially election outcome. Renko bars + Supertrend + RSI is telling to take a short position on NSE:NIFTY .
Will NDA may fall short of the majority? Renko reveals something!
NSE:NIFTY seams to be in bearish phase on Renko hourly charts. 3-4 indicators suggesting a bearish trend.
1. Renko hourly charts changing direction & colour.
2. Supertrend bearish Signal
3. Renko bearish indicator crossing up the bullish one.
4. EMA10 crossing above Renko bars.
Take a sell postion till the trend changes. I will update about trend change.