Nifty Hourly Chart
Nifty Hourly charts are moving towards the Resistance of 5790 levels.We have seen a one sided rally from past 5 trading sessions.5 EMA and 20 SMA system on hourly has not shown any sign of reversal as of now.
Indicators can remain overbought and oversold for prolonged period of time.Please remember this concept.
As per the Hourly charts Stochastic has given a SELL and Nifty closing below 5 high EMA@5749 is exhasuting sign for BULLS. RSI is also showing negative divergence.
Nifty Daily Chart
On Daily …
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