Nifty on daily time frame is currently sitting on 50% retracement level of the move from June low to Dec high. On daily time frame it is also showing positive divergence in a similar fashion which it has shown on earlier instances of short term bottom formation.
It is also in a falling channel and price is currently at the bottom of the channel and possibility of a bounce can not be ruled out.
It is also in a falling channel and price is currently at the bottom of the channel and possibility of a bounce can not be ruled out.
Note
How about shorting 17KPE monthly series - I will wait to see any signal here ...tracking it Note
What a recovery ..Note
Good going so far Note
Eventually 17K PE expired worthless and price respected the support zone marked and is up by almost 500 points from the lows
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.