Nifty - it is a falling window indicating further downside.
Nifty is in a clear downtrend, the positive news of economic stimulus and resuming commercial activity could not help it retain higher levels.
Daily RSI is at 47, which is the lowest levels in past 14 days, MACD though above the signal level, but receding histograms are indicating weakness, crossover can be expected in comming days. On 9EMA on 21RSI system, it is in sell on daily as well as two hour charts.
Day's candlestick pattern is a "falling window" after a gap down opening, it indicates continued weakness. Look for the levels mentioned on chart and trade accordingly.
As always, I would advise trade using spreads or strategies only, trading in financial markets can be risky, consult your financial adviser before taking any positions.
Daily RSI is at 47, which is the lowest levels in past 14 days, MACD though above the signal level, but receding histograms are indicating weakness, crossover can be expected in comming days. On 9EMA on 21RSI system, it is in sell on daily as well as two hour charts.
Day's candlestick pattern is a "falling window" after a gap down opening, it indicates continued weakness. Look for the levels mentioned on chart and trade accordingly.
As always, I would advise trade using spreads or strategies only, trading in financial markets can be risky, consult your financial adviser before taking any positions.
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