NIFTY 18K OR 17K ?
By the today's horrible move by index it's not easy to digest to anyone that it could fall more rapidly in coming sessions while it already sliced 500 points in last three to four days so I want to find out what actually happened and what could happen next so what I saw is that a bearish divergence is standing over there on the top which acted a resistance as well as and the RSI indictor indicating negative divergence too, And after so many days it breached 20 days moving average and close below that with full bearishness given no recovery at the end of the session closed almost on day lows as well which indicated that fresh shorts happened with full force in it. We can say the that coming Reserve bank of India and united states fed meeting will play a important role in this case study to decide further moves that where it will go and after all global markets are not supported so it will not surprised to me that it will go below 16K one more time.
Conclusion--:: The trend is negative which followed by the indicators and trendline some more downfall often we see after when this type of
chart and negative divergences occurred.
Regards to all mates.
Conclusion--:: The trend is negative which followed by the indicators and trendline some more downfall often we see after when this type of
chart and negative divergences occurred.
Regards to all mates.
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