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
