Bulls losing grip. NIFTY selling ahead.
- Arup Nag
- Nov 29, 2016
- 1 min read
Yesterday we spotted an anomaly with NIFTY and the Smart Money Tracker (SMT) which indicated the early sign of weakness in the bull market and today we have a further confirmation of that with the showing up of a regular bearish divergence. Please see the updated chart below.
The emerged bearish divergence is shown by the black lines. Additionally, we have an inverted hammer candle yesterday 29th Nov which also is an early indicator of a reversal of the current uptrend. The sold put option of 8050 strike is losing premium fast because of quick reduction in volatility which is favorable for our hedged position.
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