Nifty 50 IndexShort
Nifty - The correction is not ove yet.
Updated
On January 15 (friday) Nifty closed in negative by more than 160 points.
It even made a low of 240 points more but recovered by 80 points to close at 14434 (spot prices).
The correction is not over yet.
There is a definite bearish RSI divergence in hourly bars as well as a breakdown in the 1-hour chart frame.
The nearest support is at 14200, which I think won't hold and we will see Nifty near 200 EMA (around 13800-13900) soon.
Only around 13800-13900, we will get the clarity if the correction is done and Nifty will restart the bullish streak.
It even made a low of 240 points more but recovered by 80 points to close at 14434 (spot prices).
The correction is not over yet.
There is a definite bearish RSI divergence in hourly bars as well as a breakdown in the 1-hour chart frame.
The nearest support is at 14200, which I think won't hold and we will see Nifty near 200 EMA (around 13800-13900) soon.
Only around 13800-13900, we will get the clarity if the correction is done and Nifty will restart the bullish streak.
Trade closed: stop reached
Nifty took support at first support of 14200 and then hit the trailing SL.
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