July 12, 2010

Nifty spot chart with Hour RSI

  • The Hour chart trend line is holding nifty up.
  • But if nifty goes up to the recent high above 5400 the hour rsi will start developing negative divergence.
  • RSI has already broken its hour trend line.
  • To negate this short term negative picture nifty should close above its day high.

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