Positive Divergence in RSI

Chart shows positive divergence and falling wedge...both favours bulls.

Chart taken from coldaro

I will not be able to update the blog for next few weeks....I will miss you all....wish you all happy trading and investing.

Short Term Swing Update

• Short term swing low (Lower low) formed at 4796. (As the closing was in green for the day on 22nd August).
• Short term swing high (Lower high) formed at 4966. (As the closing was in red for the day on 24th August).
• So, The short term down move will terminate above 4966.

4836---level to watch

chart taken from Richard Lehman

SHORT TERM SWING UPDATE

SHORT TERM----- (As per daily charts)
• Last swing high is at 5112. (Lower high)
• Last swing low is at 5015. (Higher low)
• Nifty is in down move (from 27th July) with targets (+/- 10 points) of 5490**, 5450**, 5410**.
• The down move will terminate above 5112.
• Short term swing low (Lower low) formed at 5015. (As the closing was in green for the day on 17th August).
• Short term swing high (Lower high) formed at 5112. (As the closing was in red for the day on 18th August).

Short Term Trend Update

SHORT TERM----- (As per daily charts)
· Last swing high is at 5198. (Lower high)
· Last swing low is at 4946. (Lower low)
· Nifty is in down move (from 27th July) with targets (+/- 10 points) of 5490**, 5450**, 5410**.
· The down move will terminate above 5198.
· Short term swing low (Lower low) formed at 4946. (As the closing was in green for the day on 10th August).
· Short term swing high (Lower high) formed at 5198. (As the closing was in red for the day on 11th August).

TREND UPDATES

LONG TERM----- (As per monthly charts)
• Last swing high is at 5740. (Lower high)
• Last swing low is at 5196. (Higher low)
• Nifty is in down trend.
• The down trend will terminate above 5740.
MEDIUM TERM----- (As per weekly charts)
• Last swing high is at 5702. (Lower high)
• Last swing low is at 5497. (Higher low)
• Nifty is in down trend (from 28th July) with targets (+/-30 points) of 5430**, 5370, 5320.
• The down move will terminate above 5702.

SHORT TERM----- (As per daily charts)
• Last swing high is at 5702. (Higher high)
• Last swing low is at 5533. (Lower low)
• Nifty is in down move (from 27th July) with targets (+/- 10 points) of 5490**, 5450**, 5410.
• The down move will terminate above 5702.

Short term trend update

--In the short term, Nifty is now in corrective upmove with targets of 5690**, 5720, 5750.
--The upmove will terminate below 5533.

SWING UPDATES

MEDIUM TERM----- (As per weekly charts)
• Last swing high is at 5740. (Higher high)
• Last swing low is at 5497. (Higher low)
• Nifty is in corrective up move (from 29th June) with targets (+/-30 points) of 5650**, 5730**, 5840.
• The up move will terminate below 5497.
• Medium term swing high (Higher high) formed at 5740. (As the closing was in red for the week which ended on 15th July)
• Medium term swing low (Higher low) formed at 5497. (As the closing was in green for the week which ended on 22nd July).


SHORT TERM----- (As per daily charts)
• Last swing high is at 5645. (Lower high)
• Last swing low is at 5533. (Lower low)
• Nifty is in down trend (from 21st July) with targets (+/- 10 points) of 5520, 5500, 5480.
• The down trend will terminate above 5645.
• Short term swing low (Lower low) formed at 5533. (As the closing was in green for the day on 22nd July).
• Short term swing high (Lower high) formed at 5645. (As the closing was in red for the day on 20th July).