Bullish divergence still in place - Expect upmove
- Arup Nag
- Nov 20, 2016
- 1 min read
The NIFTY was lackluster on last Friday with the bulls still sitting in the sideline. Marginal bullish efforts were immediately discouraged by consistent selling pressure but not very vigorously. The index started consoladating and it is ideal time to speculate the next big move with our Smart Money Tracker (SMT).
In the updated chart posted below I have circled tow zones on the index values during last few days and the corresponding SMT values as it developed over those days.
The indication is very clear here. We can certainly expect a correction or pullback upwards from this level of ~8100. It is impossible to know beforehand how big the move is going to be. So we have to wait for any fresh bearish signal that time and act accordingly.
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