Nifty Technical Analysis

Published: Mon, 12/28/20

Dear ,

Nifty is heading toward the cluster of the two channels seen on this chart closer to 14400. After last weeks knee jerk reaction this is what most would not have expected but on the contrary the decline created the room for more upside by its spring board reaction. It was also instrumental in relieving the overbought condition of momentum indicators like the RSI that had reached 80+ and are now 50+

As stated above "A regime Shift has Happened" in the behavior or indicators like Volatility, RSI and momentum. People who have only observed this behavior between 2010-2018 should not extrapolate it. That period has ended. Now look at different trending periods of the market prior to that and you might find similarities.

Rohit Srivastava

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Rohit Srivastava
www.indiacharts.com
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