This is the daily chart of Nifty Futures, and it is confusing. There are a lot of mixed signals. Let me explain:
1. The pattern looks like a breakout of the bullish ascending triangle
Bull - 1 | Bear - 0
2. Bearish divergence quite clear
Bull - 1 | Bear - 1
3. The trend is bullish (refer to the trendline)
Bull - 2 | Bear - 1
4. EMA is aligned properly (100 over 200)
Bull - 3 | Bear - 1
5. Gap between EMA and candles is uncomfortable
Bull - 3 | Bear - 2
6. RSI is quite close to the overbought zone and is resisting
Bull - 3 | Bear - 3
Ab kare toh kya kar?
Simple, wait for the right levels to go long. There is no point in trading right now. You shouldn't go against the trend which is bullish, but these are not the right or comfortable levels to buy.
1. The pattern looks like a breakout of the bullish ascending triangle
Bull - 1 | Bear - 0
2. Bearish divergence quite clear
Bull - 1 | Bear - 1
3. The trend is bullish (refer to the trendline)
Bull - 2 | Bear - 1
4. EMA is aligned properly (100 over 200)
Bull - 3 | Bear - 1
5. Gap between EMA and candles is uncomfortable
Bull - 3 | Bear - 2
6. RSI is quite close to the overbought zone and is resisting
Bull - 3 | Bear - 3
Ab kare toh kya kar?
Simple, wait for the right levels to go long. There is no point in trading right now. You shouldn't go against the trend which is bullish, but these are not the right or comfortable levels to buy.