Bank Nifty - Bearish engulfing candlestick
Bank Nifty corrected over 500 points today and formed an bearish engulfing candlestick.
It is looking weak on other indicators / oscillators too, 9 EMA on 21 RSI indicator did gave an SELL signal neat 30980 levels.
Bank Nifty closed at 30541, if it sustains below 30512, 30390 and 30240 can be expected.
Any move and sustaining above 30680 may strengthen the bulls for upside targets of 30774, 30822, 30940
"Puneet_9EMA_21_RSI" is a simple and reliable indicator, many of us have been using it for a few months as it has given some unbelievable "Enter" and "Exit" signals, all very close to the tops and bottom.
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This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions.
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Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
It is looking weak on other indicators / oscillators too, 9 EMA on 21 RSI indicator did gave an SELL signal neat 30980 levels.
Bank Nifty closed at 30541, if it sustains below 30512, 30390 and 30240 can be expected.
Any move and sustaining above 30680 may strengthen the bulls for upside targets of 30774, 30822, 30940
"Puneet_9EMA_21_RSI" is a simple and reliable indicator, many of us have been using it for a few months as it has given some unbelievable "Enter" and "Exit" signals, all very close to the tops and bottom.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
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