Nifty is moving sideways without giving us a clue about how it will move further. As per Dow's theory any major reversals will be confirmed if both indexes are in agreement. For any strong trend Nifty and Bank Nifty should be in agreement. If Nifty and Bank Nifty travels in opposite direction, then primary trend wont develop. There is no trend when they conflict each other. We are traders and we need clear trend. RSI shows the momentum is getting weak, but the price action is sideways. Now we have to wait and watch the market until it gives us a clear direction.
As per Dow's theory "line indicates movement". Nifty is travelling in line, we will get good movement soon. https://in.tradingview.com/chart/QtD56IkU/
As per Dow's theory "line indicates movement". Nifty is travelling in line, we will get good movement soon. https://in.tradingview.com/chart/QtD56IkU/
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Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
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Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.