Nifty showing divergence on monthly chart?

A

Apurv7164

Well-Known Member
#1
#1
Hi!

On monthly chart when Nifty has made new High, RSI fails to made same.

Are we heading for downward to sidways mkt in longer term? :confused:

Senior members kindly give opinion.
 
A

aca_trader

Active Member
#2
#2
Apurv7164 said:
Hi!

On monthly chart when Nifty has made new High, RSI fails to made same.

Are we heading for downward to sidways mkt in longer term? :confused:

Senior members kindly give opinion.
Click to expand...
NIFTY has yet to make a pivot on Monthly Charts. The Divergence is on Weekly Charts.

Best Regards,
--Ashish
 
A

Apurv7164

Well-Known Member
#3
#3
Thanks! Aashish,

I think U r correct tht it has to make monthly pivot yet. I missed tht point.

What do U suppose, can HFCL go up and sustain at higher levels? It has given breakout from consolidation and once again went into consolidation zone. Moreover, fundamentally speaking it has been giving good results for last couple of qtr. However, I'm al bit skeptical abt it's management.
 
A

aca_trader

Active Member
#4
#4
Apurv7164 said:
Thanks! Aashish,

I think U r correct tht it has to make monthly pivot yet. I missed tht point.

What do U suppose, can HFCL go up and sustain at higher levels? It has given breakout from consolidation and once again went into consolidation zone. Moreover, fundamentally speaking it has been giving good results for last couple of qtr. However, I'm al bit skeptical abt it's management.
Click to expand...
HI Apurv!
Always a pleasure.

The sudden spike in trading activity in HFCL was on account of some Land Bank News. After the initial euphoria, it's moved back to the 6--month long channel. As of today, any new entry should be initiated only after a cose above Rs. 30.

Best Regards,
--Ashish
 
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