NIFTY Chart analysis

• As seen in the first chart the Negative divergence in weekly chart continues to exist without any major corrections. Correction happening right now is just the weakness within the channel. Bigger correction only if the channel support line goes. If the channel sustains the bull market will remain strong.
• For the very short term crucial levels to look for are 50 DaY SMA and 20 Week SMA for weekly time frame. Bigger weakness on a weekly close below 20 week SMA.
• CRUDE OIL CHART UPDATE

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