Trading Nifty using RSI Edge
The index witnessed a selloff in the last hour. Though the overall scenario is bearish and not signal of any big pullback or reversal, we cannot ignore the fact that the RSI is hovering into a very deep zones on the hourly charts. We are sensing some minor pullback in the index.
Clearly in the candle and volume is non confirmatory. Though this move up may not be a signal to long, on the other hand shorting opportunities can be traced where the prices face resistance. 10400 and 10530 may stall the price correction (upside) in the index.