[ nifty making move upwards with great volume but with divergence nifty can reverse from 18000 or previous months high i.e. 17800 and the previous week high was broken which also acted as a support making it a good indication for upward move! /i]
A divergence in the volume shows chances of a pullback to continue the upwards movement! 17500 was a strong psychological resistance acc. to option chain which was broken today by good movement and there has been a heavy call OI build up qt 18000, suggesting some Call Writing in heavy quantity which indicates a psychological resistance at that level according to...
Since the gap up opening the market has made an upward move and made new all time high with the candles getting weaker with fall in volume. The market had good supply at the all time high which gave us a new supply zone. According to me the market will give a retest in an upward direction and the start its move downwards to cover the gaps. Watch out for Short...
