Indecisiveness in NIFTY !
RBI announced the Repo Rate hike and the market seemed to have a neutral view.
Nifty formed a spinning top pattern and has been in a up trend since its bounce from 15200.
The Yellow line are Resistance and Blue are Support and the same goes for the dashed trend lines Y=R, B=S
Buying pressure can be seen in price action as the candle are creating long wick at bottom.
Limited Upside seems the reason for the indecision !
Cheers
Happy Weekend
Nifty formed a spinning top pattern and has been in a up trend since its bounce from 15200.
The Yellow line are Resistance and Blue are Support and the same goes for the dashed trend lines Y=R, B=S
Buying pressure can be seen in price action as the candle are creating long wick at bottom.
Limited Upside seems the reason for the indecision !
Cheers
Happy Weekend
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