Friday, July 29, 2016

Major Indices ready for a correction?

Just wanted to share a quick update on Indices.

Its all green everywhere. Nifty is cruising everyday. We know markets can't move one way. A correction is inevitable and healthy as well. Has the time come for a correction?
Nifty daily chart is indicating at a negative divergence. This is not a very comfortable situation. A correction ( can't really spell out the quantum of the correction).
Next good support for Nifty is at 8540.

Nifty, Bank Nifty, Nifty Mid Cap and Nifty Small Cap charts can bee seen below:

 Nifty daily chart:

Bank Nifty Daily

Nifty Mid cap Daily

Nifty Small Cap Daily




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