A very strong reversal pattern is visible in nifty intraday charts
i.e. Inverted head and shoulder which indicates that the fall is over
for now and we could see a sweet reversal.
Also, nifty is taking support around the golden 0.618 retracement level which
coincides with 200DEMA.
Reverse Divergence is visible on RSI indicating a fall in the strength of bears.
Yesterday's data also indicates a short covering along with a gap up
probability.
i.e. Inverted head and shoulder which indicates that the fall is over
for now and we could see a sweet reversal.
Also, nifty is taking support around the golden 0.618 retracement level which
coincides with 200DEMA.
Reverse Divergence is visible on RSI indicating a fall in the strength of bears.
Yesterday's data also indicates a short covering along with a gap up
probability.
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