July 3, 2020

NIFTY EOD charts

- nifty is at upper end of rising wedge
- nifty closed 0.5% in positive at 10607
- AD was flat

- VIX down 3%
- if a reversal has to happen, volatility and VIX will increase
- the opposite is happening so more upside is possible?

- unless 10300 and then 10000 breaks, trend can safely be considered up

- the rising wedge has lot of sideways movement
- so hourly charts (posted separately) will give a better trading perspective


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