So I will receive brickbats for this but what the hell, let's be pragmatic.
On a long term trend we are aiming to break the parallel channel which so far was intact in a hyper bullish narrative.
Note the bearish divergence!
Bull trap likely in place, will hit key resistance 1 at ~16100 and most likely we trace from there.
NOTE: this is a cyclic correction and the 5-10year trend is overall bullish for sure .
NIFTY
On a long term trend we are aiming to break the parallel channel which so far was intact in a hyper bullish narrative.
Note the bearish divergence!
Bull trap likely in place, will hit key resistance 1 at ~16100 and most likely we trace from there.
NOTE: this is a cyclic correction and the 5-10year trend is overall bullish for sure .
NIFTY
Trade active:
the indicators are telling bulls are tired #nifty
1) ADX
2) Directional Movement Index
s3.tradingview.com/s...shots/h/hyrCCsEF.png
1) ADX
2) Directional Movement Index
s3.tradingview.com/s...shots/h/hyrCCsEF.png
