June 2, 2015

Nifty chart update

  • Nifty RSI is overbought, But price yet to show any weak candles yet. If one see recent overbought signals that worked well they all had Bearish engulfing candles with it. But the one which is shown in first chart was an exception were price kept moving up and indicator stayed overbought. 
  • Second chart shows price moving around 50 and 200 sma. Sideways action may continue if price stays in the range of 8270 - 8500.

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