NIFTY Chart Analysis

 

• First chart shows Price testing the resistance line. Price closing above this line could extend the up move for bulls. But Second chart is showing negative divergence with RSI. Price is making a higher high while the Indicator is making a Lower high. Now although the Divergence looks nice here it can easily fail by giving a shallow correction and extending the up move. So one has to wait to see real weakness for the divergence to take effect.
• If the divergence does not work price could move towards the next resistance level at 6181. Crucial support is seen at 5944.
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