July 21, 2015

Bank nifty trend update

  • First chart shows how bulls avoided a Death cross from happening with a powerful reversal from 17174 level. This up move is still intact but price is showing signs of weakness which is not confirmed yet. Weakness is seen at the Golden ratio along with negative divergence in MACD Histogram.
  • Bears need a daily close below 18860 levels for a possible extension of weakness. 

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