Nifty has rising ADX at 33 levels with bearish DMI. This has never been a good sign as the indicator has high success rate given that it is rising from below 20 levels.
The index has closed below the lower bollinger band thrice in 2011 with last friday the latest. Also there is crossover of 20 and 200 SMA on daily charts.
The futures are still in bearish zone after the shorts added at 5490 levels and 10600 levels. Daily and weekly for both Nifty and Bank Nifty are in Lev sell mode.
The index has closed below the lower bollinger band thrice in 2011 with last friday the latest. Also there is crossover of 20 and 200 SMA on daily charts.
The futures are still in bearish zone after the shorts added at 5490 levels and 10600 levels. Daily and weekly for both Nifty and Bank Nifty are in Lev sell mode.
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