Nifty moved up 400+ points today. The up move seem to be due to short covering that was due and also the hope of stimulus from Govt.
Nifty formed Doji on the Daily chart on 24 Mar and today followed with the good up move. Daily RSI is showing bullish divergence, so upside correction/consolidation is very likely. The market is Sell on the rise and any up move will be used to create more shorts.
Nifty may face strong resistance in 8900-9000 zone.
Nifty formed Doji on the Daily chart on 24 Mar and today followed with the good up move. Daily RSI is showing bullish divergence, so upside correction/consolidation is very likely. The market is Sell on the rise and any up move will be used to create more shorts.
Nifty may face strong resistance in 8900-9000 zone.
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