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.
