According to Monthly chart -Nifty is making HH to HL but RSI creates H&S pattern but no divergence is there = Means Confusion
Weekly chart - Nifty is making HH to HL but Price face resistance near upper trendline with bearish engulfing candle but RSI creates Negative
divergence= Means Negative.
Daily Chart - Nifty is making HH to HL pattern but price failed from higher levels and trading near 10300 levels and trading below trendline ( which is from 9700-10500) and RSI also given selling signal= Means Negative.
1hr. Chart - In 1 hr. chart If u look at RSI then it is trading below supporting trend line and indicates SELLING SIGNAL so for confirmation need a selling signal in RSI again -so wait watch for levels to go short.
Fibonacci analysis-- If u look on 2 nd wave -this is irregular pattern so 4 th wave could be Irregular pattern in ABC wave
FOR CONFIRMATION--STRONGLY LOOK ON 1HR CHART TO GO FOR SHORT WITH RSI FOR TREND CHANGE OTHERWISE STAY IN BUYING POSITION
Weekly chart - Nifty is making HH to HL but Price face resistance near upper trendline with bearish engulfing candle but RSI creates Negative
divergence= Means Negative.
Daily Chart - Nifty is making HH to HL pattern but price failed from higher levels and trading near 10300 levels and trading below trendline ( which is from 9700-10500) and RSI also given selling signal= Means Negative.
1hr. Chart - In 1 hr. chart If u look at RSI then it is trading below supporting trend line and indicates SELLING SIGNAL so for confirmation need a selling signal in RSI again -so wait watch for levels to go short.
Fibonacci analysis-- If u look on 2 nd wave -this is irregular pattern so 4 th wave could be Irregular pattern in ABC wave
FOR CONFIRMATION--STRONGLY LOOK ON 1HR CHART TO GO FOR SHORT WITH RSI FOR TREND CHANGE OTHERWISE STAY IN BUYING POSITION
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This time Nifty is trading near 10220 levels after touched 10180 levels but i have confident it will have to touch again 10130-40 levels in 1 to 2 days But at that levels don't think that nifty will do as like free fall .
My thinking is saying it will take bounce from 10130 levels to 10300
Then trend will be decided
My thinking is saying it will take bounce from 10130 levels to 10300
Then trend will be decided
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