Nifty may go downside nowNSE:NIFTY can downslide before the union budget. Renko charts are saying so. After a huge upside its now time to encash Nifty with short position.
Renkobars
Sell Nifty? Renko bars says so!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!
Renko Daily & 4hr Added an up BrickBiocon earnings are on tomorrow. Renko Daily & 4hr Added an up Brick (green). this could indicate that the big players are set to send the price up.
Renko going up on before news (earnings) and an event (expiry) despite the sight increase in ATR 14 is often an indication that the big guys know something positive about Biocon.
Observe but trade only if convinced. Set a tight SL if you go for it at opening.
Renko, Supertrend & Aroon all given bearish signalNSE: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.
