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MACD histogram shows a strong momentum
Both daily and weekly RSI are in the neat extreme levels of 77.40 and 77.32, which is a caution alert
Consolidation till Budget likely
The index tested 38.2% retracement of the rally from low in Oct 2023
It’s time to stay on sidelines on risky day
The upside is limited to another 2%; But on the downside, a move below 23,060 means, it can fill Monday’s gap immediately
Nifty stares at heightened volatility
VIX up by 1.77% to 24.60; stay cautious and avoid aggressive buying
Time to take a break from trading
Investors need to wait for the market to stabilise; This can help investors avoid making impulsive decisions and give time to reassess strategy
MACD indicating strong bullish momentum
RSI moves to strong bullish zone; Bullish bias as long as market is trading above 22,800pts; Nifty formed one of the strong bullish candles in recent...
MACD signals increased bearish momentum
Better to stay with more cash and on the sidelines; Volumes declining for last 3 days and below average
Nifty forms bearish Dark Cloud candle
Watch the 22,313-22,480 zone on Monday; Expect more volatile days ahead; Index formed an open-high candle and closed very near the to the day’s low