Market fell heavily but reversal seen ahead
- Arup Nag
- Nov 7, 2016
- 1 min read
7th November, 2016
I mentioned in the previous post that a bullish divergence was indicating a reversal but the market continued falling on last Friday because of the big event uncertainty, the US election.
Despite this downslide our Smart Money Tracker is still pointing upwards and no fresh bearish divergence appeared there. See below the chart.
Not just only an upward slope but despite a massive fall in market the SMT has printed a positive value of 0.46 which is very interesting. Therefore I am still very much bullish and hoping to see a reversal shortly.
Tags: hidden divergence, custom indicator, divergence, proprietary trading, futures, trading, smart money tracker, smart money, nifty, indian stock market, forecasting, regular divergence, derivatives, finance, prediction, options, market analysis