NIFTY Caution
Hi all Today would like to throw some light on RSI on Monthly Charts based on previous reactions. This is just my personal observation but not a Recommendation.
As we see when RSI reached above 80 levels on monthly chart, we observed good correction happening previously since 2007 which is already marked on chart, same wise when ever its reaching near to 80 and above 80 indicates some pressure. After 2008 crash we can observe it has reached twice almost to and above 80 levels in RSI and given almost average of 18% correction in after time. The same we got it now and marked on chart, this is just a view, I may be wrong too...
Note: Some pull back is expected as per PCR or it may be a Time correction to cool off PCR.
Please hit Like and share for supporting me to share knowledge and experience that i had.
As we see when RSI reached above 80 levels on monthly chart, we observed good correction happening previously since 2007 which is already marked on chart, same wise when ever its reaching near to 80 and above 80 indicates some pressure. After 2008 crash we can observe it has reached twice almost to and above 80 levels in RSI and given almost average of 18% correction in after time. The same we got it now and marked on chart, this is just a view, I may be wrong too...
Note: Some pull back is expected as per PCR or it may be a Time correction to cool off PCR.
Please hit Like and share for supporting me to share knowledge and experience that i had.
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