April 12, 2014
- NIFTY Daily chart shows price continues to remain in a strong bullish trend.
- Weakness can only be seen once price closes below the Low EMA's and the support lines shown in 2nd chart. crucial level to hold above 6650.
- MACD Histogram shows negative divergence. When the trend remains strong divergences takes time to work. Sometimes they do fail by giving sideways consolidation.
- last chart shows the weekly time frame with is stochast above 80%. Unless stochastic dips below 80% there will not be bigger corrections.