NIFTY SPOT

20 Jun 2022

Finally, after 7 trading days Nifty closed positive green today, So now what's our trigger point to initiate fresh buying here, its nothing but mass psychological RK's cloud buy signal, above RK's stop line and also RK's momentum buy signal activated on 15 mins time frame, which is good enough to rely on.
Over all wave structure is also suggesting pullback is due before fresh fall down, once price give close above 20HMA which is pegged at 15370 currently only 20 points far from here, then definitely more action could be seen on chart.
Breakout in rsi on hourly chart along with uptick and rsi entered above 40 levels.
Breakout in macd noticed on hourly chart, also breakout in histogram noticed on hourly chart.

Current wave structure on hourly time frame


Breakout in histogram noticed on hourly chart


Breakout in macd noticed on hourly chart


Breakout in rsi on hourly chart along with uptick and rsi entered above 40 levels



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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.