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Friday, May 12, 2023

FRIDAY CANDLES OF NIFTY FUTURE - 12th May, 2023

 Dear All,

> NIFTY FUTURE DAILY CHART

Its my Small Observation how this week Upmove can't be trust worthy.

04th May, Thursday - RSI 70 !!

Last Friday when Market Closed at -164 with a Good Volume of recent times and generated a Strong Sell Signal, the Candle was a "RED Hammer."

But Eventually Next Monday - NF made a Gap UP Opening and Negated the Bearish Nature of Friday's Sell Signal. 

Tuesday - RED Hammer 

Wednesday - Hanging Man

Thursday - Hanging Man

Friday - Red Hanging Man

Entire Week - RSI Can't Cross above 70 - made a Negative Divergence.

Conclusion :- 18100 & 17965 Once breaks may Trigger a Heavy Selloff, as this Week Fake Upmove may gets Negated Soon.