Expected to move downwards based on the long-term trend and indicators divergence. Also, RSI is at the resistance level. Less probable to break the support but a good setup to trade till it reaches the support.
Technical analysis is meant to make decision-making easy. A clear opportunity to take a LONG position in nifty for a short term.
Confirmation from all the indicators.
This is a time when you need to show some patience. No matter how big is the urge to trade, the setup is not supported.
The nifty has dropped to its support of 50-day Moving average. The RSI is in the mid-zone.
Overall, not a good time to enter!
