Nifty has been quite bullish for past 2 days after a long fall. but it seems it has a resistance to upside now as shown in the chart. It might move to the 19250 and then have some consolidation.
Reason:
Verdict:
Mild Bullish
Plan of action:
Observe the 15 min Candle, follow the price action.
Reason:
- 200 EMA Resistance (Good Resistance)
- Price Action Resistance (Red Zone upside)
- Price > (13,50) EMA (shows bullishness)
- EMA(13,50) Crossover (Bullish)
- PCR = 0.78 (Neutral)
- RSI > 50 (Bullish)
- RSI Bearish Divergence
Verdict:
Mild Bullish
Plan of action:
Observe the 15 min Candle, follow the price action.
