Not done with surprise shocks yet? (NIFTY)
In the write-up,
recapfin.com/2021/05/31/rbi-warning-bells-vs-market-indicators/
we had talked about the position of Nifty considering various market indicators and gave the levels 15886-16000 as major resistance points which Nifty seems to be respecting since May 2021.
A combination of indicators and factors have been identified and discussed in the article, that silently shaped the market right before the fall of March 2020.
What are these indicators pointing at now?
What's Nifty at currently:
- Below 50 MA after a long consolidation
- RSI continuously losing heat
- Nifty failed to jump back despite impressive results
- Short and mid-term traders might need to get a bit more cautious if Nifty sustains below 50 MA and RSI enters in the bearish zone of 40-33
recapfin.com/2021/05/31/rbi-warning-bells-vs-market-indicators/
we had talked about the position of Nifty considering various market indicators and gave the levels 15886-16000 as major resistance points which Nifty seems to be respecting since May 2021.
A combination of indicators and factors have been identified and discussed in the article, that silently shaped the market right before the fall of March 2020.
What are these indicators pointing at now?
What's Nifty at currently:
- Below 50 MA after a long consolidation
- RSI continuously losing heat
- Nifty failed to jump back despite impressive results
- Short and mid-term traders might need to get a bit more cautious if Nifty sustains below 50 MA and RSI enters in the bearish zone of 40-33
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