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Upward momentum slows down
Nifty continues positive trend, traded in just a 175-pt range for last 4 days; The volumes declined to below-average and lowest levels in the last 10...
Indicators signal bullish candle
The all-time high is just 107 pts away; There’s every probability that Nifty can reach a new high in next 2-3 sessions
Charts indicating neutral to positive bias
Nifty formed an inside bar, trading within last Thursday’s range
Wait for a decisive range breakout
RSI in bullish zone; MACD histogram shows a flat momentum and VIX is up by 0.70%
MACD shows decline in momentum
RSI below 50 zone; The last 3 sessions of price actions were not convincing to be strongly bullish as Nifty formed lower high candles
It’s time to book profits as index extended rally
Watch the index in 19,627-875 zone; Either side breakout will give clues for next direction
MACD shows strong momentum
RSI (60.56) entered into the strong bullish zone; But, Shooting Star candle at the swing high shows exhaustion and tiredness in the trend
How long counter rally will continue?
The current swing is 14-day-old and is the longest swing in recent times; Nifty closed near the day’s high and formed a hanging man like candle
