Nifty - Hammer at lower band of channel
Note: This is for educational purpose only.
There is a hammer at lower level of the channel which acts as as support. Moreover, as power of confluence, the lower band of channel is also coincides with the 21 EMA and there is a hammer at this level. However, RSI is 56 which is in neutral zone. Expecting a bullish move post 11700 level.
There is a hammer at lower level of the channel which acts as as support. Moreover, as power of confluence, the lower band of channel is also coincides with the 21 EMA and there is a hammer at this level. However, RSI is 56 which is in neutral zone. Expecting a bullish move post 11700 level.
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