Bank Nifty closed at 24,478 after touching a high of 24,764 (near term & strong resistance level). Is it a consolidation before touching 25K or it is a reversal ? only time can tell. My personal view is it is just a short term consolidation ! Lets see…
Bank Nifty today gave 261 points on short side below the closing low of the selling divergence (blue) candle (15 minutes chart referred).
Indicator used TE REKAB, it captures reversals in the market.
This is my personal study & idea. Please take advice from your financial advisor before taking any investing decision based on above chart.
Happy Investing !
PS: If you appreciate my study, pls do leave a like. My funda is to keep trading simple & stick to your conviction once you are on the right side of a trade, esp. intra-day trade !!
Hi Bro, so the blue candle is a reversal indicator .....am i right...
c4dilip
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@rnk1479, yes....blue is Selling Reversal & yellow is Buying reversal. The indicator best works when you catch reversals at a day high & a day low.
sameer8587
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Hello brother, which indicator that forms red and green zones and what is that indicator te rekab indicator tell me bro
c4dilip
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@similarBus, TE REKAB is a indicator which catches Selling & Buying Divergences. It works on 5 mins & 15 mins charts for intra-day trades & gives good moves from day highs & day lows.