Thursday, February 16, 2017

Nifty Chart

After a rise of 7911 to 8828+ consolidation happened to cool of RSI from OBZ to OSZ
only by 100 points from 8821 to 8721.  RSI already OSZ. So pain me be 1-2 days to bulls. Any +ve
divergence to take off Nifty to break 8847 zone for 8888-8927-8990.

Nifty Chart - 8770 and 8840 act as a stiff resistance for short covering. 8721-8690 good support. Already OSZ will issue some buying pressure to bulls, Almost looks like Hidden divergence in hourly chart. so any +ve divergence will issue good bounce back to get strength to break the stiff resistance. Pain to bulls for 2-3 days. Resistance break with god volume will be good for Bulls - Happy trading wait and watch.

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