NIFTYSELECTMIDCAP: Warning or Warming
We did post this elsewhere, cluster of moving averages, confronting the space.
The incremental negative divergence is the hurdle.
What is more important, occasional profit taking is far healthier than what is understood.
In that sense, we are due for one. Yesterday fall is it warming for bigger fall, or the rise post the fall warming for a rise.
One has to wait and see. Suffice to note, the confluence of the supply zone, the exponential moves in many of its components, negative divergence. Clearly for incremental moves this can unfold a challenging place.
That said market may stretch before the correction, that can be far severe and swift.
11200-11400 can suffice near term range.
The incremental negative divergence is the hurdle.
What is more important, occasional profit taking is far healthier than what is understood.
In that sense, we are due for one. Yesterday fall is it warming for bigger fall, or the rise post the fall warming for a rise.
One has to wait and see. Suffice to note, the confluence of the supply zone, the exponential moves in many of its components, negative divergence. Clearly for incremental moves this can unfold a challenging place.
That said market may stretch before the correction, that can be far severe and swift.
11200-11400 can suffice near term range.
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