The daily color of Nifty has changed to Neutral if it holds the 5450 levels and the Bank Nifty has been in Buy color from 10700 levels.
Worth noting is the mean reversion of Nifty to mid band from the lower band. This is an important level as the previous trend gets negated and the Index has got a fresh new start if the mid band holds. The bullish trend usually stops here if the bulls have less power.
Another formation to keep an eye would be falling ADX. See ADX related posts here.
This also indicates that if the 5400 level holds then we can expect some range to slightly bullish movement ahead.
Worth noting is the mean reversion of Nifty to mid band from the lower band. This is an important level as the previous trend gets negated and the Index has got a fresh new start if the mid band holds. The bullish trend usually stops here if the bulls have less power.
Another formation to keep an eye would be falling ADX. See ADX related posts here.
This also indicates that if the 5400 level holds then we can expect some range to slightly bullish movement ahead.
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