"WEEKEND EDITION"
NIFTY WEEKLY CHART :
RELATIVE STRENGTH INDEX(RSI):( FROM 10/06/09 TO TILL DATE)
THERE ARE 2 POSSIBILITIES
1 ) BEARISH DIVERGENCE : AS SEEN FROM THE ABOVE CHART NIFTY HAS BEEN MOVING UP ACCOMPANIED BY FALL IN RSI , WHICH IS MAKING LOWER HIGH
THUS THIS IS AN INDICATION THAT WE COULD SEE A FALL IN THE MARKET IN NEAR FUTURE
2 )TRENDLINES: RSI IS FACING RESISTANCE AT THE UPPER TRENDLINE , WHICH IS VERY IMPORTANT TO BREAK IN ODER FOR IT TO MOVE HIGHER FROM HERE
IF THIS TRENDLINE IS BROKEN ON THE UPSIDE THEN 5475 AND 5500 ARE THE NEXT POSSIBLE TARGETS
No comments:
Post a Comment