Hi all,
Refer to my post of 26th March stating that Nifty may bounce back with supports of 5600.
Though Nifty created a lower low on daily charts (today's low is lower than Tuesday's) still i feel there is a chance of a short term bounce.
However on a safer side. on a conservative basis, one can think of long in Nifty if today's high is surpassed on Monday since its a divergence on daily charts.
One thing to note down is on hourly charts I was long in morning near 5620 with the same SL, however I had booked profits since its nearing the overbought area in hourly RSI
For learning a different dimensions to Divergences also check my other blog -
http://hrishikeshsp.blogspot.in/
Cheers
Hrishi
Refer to my post of 26th March stating that Nifty may bounce back with supports of 5600.
Though Nifty created a lower low on daily charts (today's low is lower than Tuesday's) still i feel there is a chance of a short term bounce.
However on a safer side. on a conservative basis, one can think of long in Nifty if today's high is surpassed on Monday since its a divergence on daily charts.
One thing to note down is on hourly charts I was long in morning near 5620 with the same SL, however I had booked profits since its nearing the overbought area in hourly RSI
For learning a different dimensions to Divergences also check my other blog -
http://hrishikeshsp.blogspot.in/
Cheers
Hrishi
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