Upen1973

Stochastic shows a different picture...

Kort
NSE:NIFTY   Nifty 50 Index
The Stochastic (which is marked with red line) and the price highs (which also are marked with red line) in such formation often gives an interesting outcome. Recent price high is much lower than the previous high but the Stochastic highs depict different picture. For the last price high it shows a lower high but the recent price lower high it shows a much higher condition (highly overbought). Usually this type of formation in Stochastic predicts a steep and sharp fall in the price. The same opposite condition indicates exactly an opposite outcome, i.e., price shoots up fast. So from the current scenario of Stochastic it might be assumed that Nifty is going to fall quite sharply in the upcoming sessions. At this time sub-14000 is quite possible.
Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.