NIFTY: The upward trend could end
From the daily chart, we can see that the price has been rising for a while. The wave of the price in the chart is regular. And the price seems to follow the trend line I marked on the chart.
BUT
I would say that the upward trend may end in the near future.
Divergence is obvious, the MACD is in a downward trend. Also, the RSI seems to be too tired to go up, so it fluctuated around 65.
If you want to see more signals, you can find a rising wedge( not ascending triangle) in the chart, which is also a signal of bearish.
So, let’s expect the price to go down.
BUT
I would say that the upward trend may end in the near future.
Divergence is obvious, the MACD is in a downward trend. Also, the RSI seems to be too tired to go up, so it fluctuated around 65.
If you want to see more signals, you can find a rising wedge( not ascending triangle) in the chart, which is also a signal of bearish.
So, let’s expect the price to go down.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.