NIFTY AGAIN IN ITS RANGES, OPPPS
AGAIN NEGATIVE DIVERSION IN INDICATORS!!!
The NSE Nifty spot closed at 5724
up by marginal volatility. The index closed with the positive movement but with
the negative diversion in the lower indicators. This may result in to somewhere
profit booking in the major stocks of index especially in banking and finance
stocks. MACD is trying to cut upside which is positive factor for long position
holders of nifty future. On the other hand, short-medium-long term averages are
giving support on the daily basis. Stochastic has reached in overbought
situation at 93.18 which may result in to some correction in coming trading
sessions. Beware before making long position in nifty future for 2-3 days.
Happy Trading !!
Megha Investments & Research
Team
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