July 23, 2016

Nifty Weekend update

  • Nifty continues to remain in a range. Bearish engulfing spotted yesterday morning lost its significance by the end of the day. This happens when price is in a range. For a directional trade its better to wait for the range to get resolved. 
  • MACD Divergence has given shallow corrections as shown in chart 2. So if that trend is to continue price should give a bearish move out of this range. But one should also consider the larger trend before taking a bearish position.

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