What's a crack Nifty got on dot from 15800 levels. It was well predicted using RSI and trend line supports.
This is how RSI divergence can be dealt. Now, almost every indicator will give sell and sell but that may turn be late sell. I am updating that 15600 is the support which is already under test now. Afterward, Nifty has support @ 15300. Momentum might be shifting and 15800 may remains top for now.
Good Morning Friends,
Once again I avoid giving daily chart and it remains choppy at top. Above is hourly chart and have a look on the trend line drawn. Nifty moved on that trend line itself. Now, its a 50-50 deal. Bulls will save trend line is saving and bears will it can break.
What even be, but it is still having respect. One thing is clear that 15800 is still proving as tough resistance. We have meaningful support at 15600, little far by 150 points. If you can trade conformably in this zone then one can trade. opt a strategy of buy low and sell high.
I also opted s strategy of shorting high due to better risk reward. Well, still you cannot be too greedy as market is not weak yet. It can be ... it may be a pause before next rise. I still use can be may be. Hope for the best today.
Happy Trading,
