NIFTY: The upward trend could end
From the daily chart, we can see that the price has been rising for a while. The wave of the price in the chart is regular. And the price seems to follow the trend line I marked on the chart.
BUT
I would say that the upward trend may end in the near future.
Divergence is obvious, the MACD is in a downward trend. Also, the RSI seems to be too tired to go up, so it fluctuated around 65.
If you want to see more signals, you can find a rising wedge( not ascending triangle) in the chart, which is also a signal of bearish.
So, let’s expect the price to go down.
BUT
I would say that the upward trend may end in the near future.
Divergence is obvious, the MACD is in a downward trend. Also, the RSI seems to be too tired to go up, so it fluctuated around 65.
If you want to see more signals, you can find a rising wedge( not ascending triangle) in the chart, which is also a signal of bearish.
So, let’s expect the price to go down.
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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.