Reliance industries is showing negative RSI divergence on monthly time frame.
Time to be cautious for investors. It might go under long correction phase, could become range bound for years and test the patience.
Aarti drugs is on the verge of multi year breakout of long side ways zone.
Please refer the chart.
Supply zones @ (940-971) / (1100-1130) / (1240-1280)
Demand zone @ (784-810)
Major demand zone @ ( 688-706)
Upside there is resistance @21950 and on downside there is major support @17000.
Looking at the RSI of the bank nifty, it can be say that BNF is in sideways zone for next few weeks, showing range bound between (17000-21950)
For 14th may expiry,
Supply zones @(20185-20360) / @(21130-21950)
Demand zones @(18700-18950) / @(17650-18100)
Resistance @ 21950
Nifty is trading near 20 moving average.
It might be the sign of reversal for next week's expiry.
If nifty sustains above 9500 level then only take long position for the 14th may.
On downside there is support @8400 level and strong support @8000 level.