NSE:NIFTY Index of the 50 listed India companies
I am not sharing any trading idea in this, as price is between zones hence no trade can be initiated from current price point.
One can consider that we have already taken support of below the price and trade, but it will be assumption only. I will not trade till the time my parameters of trade are not fulfilled.
What i want to share in this chart is divergence on price and indicator. The divergence trades can utilize this opportunity. As shown in the chart price is at the 88% of fibonacci level which is considered strong point for reversal.
127% is not matching the zone but 161% is this may indicate something.
We have structural top placed at 8129 and bottom at 8048. These two points will be important in next 2 days trading and may be after that also.
@AMBRISH, RSI divergence not worked and as expected the price continued the down move. "127% is not matching the zone but 161% is this may indicate something". We can expect this statement coming true :) but again it will be guess only, i will trade according to zones and structure only. Updated chart shared in the comment area.
@dhananjay.d.joshi, Thanks it is short now .
@AMBRISH, we will have to wait till chart indicates the same.
@dhananjay.d.joshi, I will wait for your update, Thank You.
@AMBRISH, no need to wait for anyone. Chart is will show us, Follow the price , levels & Trading System.