NIFTY200; Daily...still to observe with more trouble ahead?
Hello Traders,
as I wrote some hours ago traders create a "bearish Engulfing" on a Daily basis at NIFTY200! This reversal Candle got played out and decent sales pressure comes into play. By not counting the Index it still looks for more trouble ahead just even a countertrend push is to expect! The RSI dropped well below the 50 point zone but still hase the chance to reverse and move back into bullish territory (50 point zone and higher)!
Today`s low at 5244.054 meet the .618 RT of the last advance! I will wait for a clearer view if this is part of a larger correction or at least the decline is done!
Have great day...
rubennase
I show this Index because it represents a broader market as for excample the "ishare MSCI Small Cap India Fund" did too!
as I wrote some hours ago traders create a "bearish Engulfing" on a Daily basis at NIFTY200! This reversal Candle got played out and decent sales pressure comes into play. By not counting the Index it still looks for more trouble ahead just even a countertrend push is to expect! The RSI dropped well below the 50 point zone but still hase the chance to reverse and move back into bullish territory (50 point zone and higher)!
Today`s low at 5244.054 meet the .618 RT of the last advance! I will wait for a clearer view if this is part of a larger correction or at least the decline is done!
Have great day...
rubennase
I show this Index because it represents a broader market as for excample the "ishare MSCI Small Cap India Fund" did too!