Nifty Daily
Nifty daily chart has ended at 6695.
It is trading near the support of the trendline.
MACD is showing divergence and RSI has crossed downside indicates weakness.
However 60 mins chart shows a support near the trendline.
MACD has crossed the slow moving line upwards indicates upside can be seen.
RSI is in a oversold position.
It seems like sentiments looks bearish for nifty but an upside can be seen and price could touch the upper
trendline of the range near 6900 level after which we could see a downside correction in the market.
This view get negate if nifty close below 6640 level.
Regards
Rinkesh
This is just for educational purpose, consult your advisor before trading.
Nifty daily chart has ended at 6695.
It is trading near the support of the trendline.
MACD is showing divergence and RSI has crossed downside indicates weakness.
However 60 mins chart shows a support near the trendline.
MACD has crossed the slow moving line upwards indicates upside can be seen.
RSI is in a oversold position.
It seems like sentiments looks bearish for nifty but an upside can be seen and price could touch the upper
trendline of the range near 6900 level after which we could see a downside correction in the market.
This view get negate if nifty close below 6640 level.
Regards
Rinkesh
This is just for educational purpose, consult your advisor before trading.
