NIFTY 50 - A DEAD CAT BOUNCE?
if you see above 2hrTF chart, NIFTY 50 has not recovered completely from Bear State and it can be just a 'Dead Cat Bounce'.
Condition for NIFTY 50 to be considered out of Bear State are as below.
1. Index start trading above 20EMA band.
2. RSI crossed 70 mark.
Condition for NIFTY 50 to be considered out of Bear State are as below.
1. Index start trading above 20EMA band.
2. RSI crossed 70 mark.
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