March 2, 2014

NIFTY and RSI charts

On daily charts, nifty is nearing previous resistance levels though some more upmove cannot be ruled out.

On weekly charts, RSI is forming lower swing highs. Note resistance at 64.

On monthly charts, RSI is approaching resistance... current levels are such that RSI has peaked out since 2009.

EDIT: there is no short trade possible. For positional shorts, you can set conditions like drop of 2% or break of weekly low etc.

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