Monday, July 18, 2016

Resisted @ 8580

Dear All,

>>> Nifty Hourly Chart - Posted on Weekly Review <<<

>>> Click the chart to see on full screen <<<

Posted on Weekly Review - to watch channel middle line and RSI for game changer.

>>> Nifty Hourly Chart - Happened Today <<<

>>> Click the chart to see on full screen <<<

As expected RSI and Price broken down.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price resisted @ the channel top - Suggest a caution sign. Must get confirmation from RSI for a valid correction. Since Bank Nifty - is the Mother of all index, A correction here is a caution for entire market.


>>> SBIN - Hourly Chart <<<


>>> Click the chart to see on full screen <<<

If this Raising wedge - breaks below the channel and RSI support it, Correction can be some what deep!!!. We are holding short and expecting the same. Cheers!!!