NIFTY Chart Analysis

• Nifty week is approaching a crucial resistance line and Weekly stochastic too may become overbought by the time price hits this line. Any weakness at this resistance line could be a potential sell signal.
• MACD Histograms in daily is showing negative divergence. But MACD lines are yet to give a sell signal. A sell signal between the Golden raito and 78.6% may give the perfect entry for bears.
• For bulls These projections does not matter as they have a 20 - 50 SMA bullish cross on daily chart as long as price does not show weakness bulls are safe to hold on.
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