Four negatives of Nifty on charts :
1) Nifty made a huge bearish engulfing candle with OPEN very near to HIGH and LOW very near to CLOSE, which means unidirectional downslide. Bulls were not in sight as they were far outnumbered.
2) Nifty closed below 20 DEMA.
3) RSI turned down with a single day fall from 58 to 50.
4) Volume on futures chart are showing highest in the week.
IF it opens gap down on Monday, or later in the day does not break Friday's high, assume that NIFTY has changed trend from UP to DOWN.
1) Nifty made a huge bearish engulfing candle with OPEN very near to HIGH and LOW very near to CLOSE, which means unidirectional downslide. Bulls were not in sight as they were far outnumbered.
2) Nifty closed below 20 DEMA.
3) RSI turned down with a single day fall from 58 to 50.
4) Volume on futures chart are showing highest in the week.
IF it opens gap down on Monday, or later in the day does not break Friday's high, assume that NIFTY has changed trend from UP to DOWN.