Good Morning Friends,
Above is hourly chart as daily chart is not conclusive yet. Have a look on RSI and the trend line drawn on NIFTY chart. You are already experienced and can sense what could happen next.
Normally, Divergence act on the break of decisive trend line. (Note - if it does not then divergence continues).
Suppose if it breaks above trend line then it will see a price correction. Why am I saying for break of trend line? Derivative data is suggesting that 15800 may not see easy cross now so choppiness or correction is likely situation.
Place above set up on NIFTY spot and watch it for the day.
Happy trading,
Praveen Kumar
great guidance as always !
ReplyDeleteIts my pleasure....
ReplyDeletegreat guidance today also, helps me manage my position which is in 15900 pe, much below my average purchase price, but if correction comes will benefit me!
ReplyDeleteYou must have benefited as fall came to hit 15608
ReplyDeleteoh yes i did benefit praveen ji though i was in loss but your posts were giving indication that a fall could be imminent. only regret is i booked out early and could not get the full advantage of the fall. nevertheless ended up in profit from loss thanks to your guidance.
ReplyDelete