Monthly TF- Nifty is making a possible inside day candlestick for the month with supports being at 5183 on monthly level. Stocs are in buy mode and Macd is in sell mode though its making lower histograms.
Weekly TF- Though the candlestick is lower low and lower high - for the timebeing 5179 is the 200ema which is holding and 5171 is the possible buying zone. Stocs is in sell mode and macd is in buy mode.
Daily TF- Today on daily TF candlestick has made a lower low but with positive divergences across all the three indicators I follow. Stocs are in sell and oversold territory and macd is in sell as well.
We would go long when stocs and macd tell us to do so, till then since the conditions are oversold we are not shorting nifty at this juncture.
Weekly TF- Though the candlestick is lower low and lower high - for the timebeing 5179 is the 200ema which is holding and 5171 is the possible buying zone. Stocs is in sell mode and macd is in buy mode.
Daily TF- Today on daily TF candlestick has made a lower low but with positive divergences across all the three indicators I follow. Stocs are in sell and oversold territory and macd is in sell as well.
We would go long when stocs and macd tell us to do so, till then since the conditions are oversold we are not shorting nifty at this juncture.
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