Nifty chart study
Nifty spot cmp 18333
index is trading around resistance zone as per ascending trendline. connecting the previous swing highs. bearish divergence on RSI with respect to price.
waiting for one big bearish candle confirmation for reversal, if index is not able to sustain above the trend line than fall will be steep.
Harmonic 3 drive formation also can be observed,
keep watch, bulls need to be cautious , bear need to be ready to jump in
index is trading around resistance zone as per ascending trendline. connecting the previous swing highs. bearish divergence on RSI with respect to price.
waiting for one big bearish candle confirmation for reversal, if index is not able to sustain above the trend line than fall will be steep.
Harmonic 3 drive formation also can be observed,
keep watch, bulls need to be cautious , bear need to be ready to jump in
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