WILL NIFTY FOLLOW DOW’S 600 POINTS SURGE? HERE IS RSI EDGE ANALYSIS FOR TRADING NIFTY.
Nifty – A doji star followed by a bullish shaven head indicates a good buying has taken place across all segments in the markets. The volumes are also impressive. RSI curled up from the bullish support zone. The most probable targets for Nifty as of now is 10295 and 10460 levels. Though trend reversals up cannot be deciphered with a single day movement but still these two levels seems most probable for the Nifty. Sellers may have to wait for a couple of sessions on the sidelines.
As mentioned in the video : Watch Here: the major cycles lows are nearby, this may be effect of the cycle bottoming out. The daily price action has suggested upside correction may continue for a session or two while the weekly trend is still to pick up.
Bharat Jhunjhunwala MFTA, CMT, CFTe, MSTA