Nifty
*spot level study
14800 to 14900 levels are where bulls should enter.
Why wait is because the RSI is in the overbought range on weekly charts.
The gap between Moving averages / trendline has been covered quite a bit yesterday as MAs moved up. The base level shown on the daily charts today is at around 14460. This level is a support if there is a major correction which we have no reason to expect at this time.
Going back to history, Nifty rose from lows of 13131 on 21st Dec up to 13596 till Jan 21. This is a 1600+ point rise before correction happened and Nifty fell to 13596 from 21 Jan to 29 Jan which is a good 1100 point correction.
*As on 9th Feb, we are trading at 15159 which is a rise of 1563 points and today we might reach 1600 point level.
Keeping the history in mind, bulls should step back and watch as of now. Keep liquid capital handy and follow the buy on dips strategy.
14800 to 14900 levels are where bulls should enter.
Why wait is because the RSI is in the overbought range on weekly charts.
The gap between Moving averages / trendline has been covered quite a bit yesterday as MAs moved up. The base level shown on the daily charts today is at around 14460. This level is a support if there is a major correction which we have no reason to expect at this time.
Going back to history, Nifty rose from lows of 13131 on 21st Dec up to 13596 till Jan 21. This is a 1600+ point rise before correction happened and Nifty fell to 13596 from 21 Jan to 29 Jan which is a good 1100 point correction.
*As on 9th Feb, we are trading at 15159 which is a rise of 1563 points and today we might reach 1600 point level.
Keeping the history in mind, bulls should step back and watch as of now. Keep liquid capital handy and follow the buy on dips strategy.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.