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Nifty showing divergence on monthly chart?

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  #1  
Old 26th February 2007, 12:33 AM
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Thumbs down Nifty showing divergence on monthly chart?

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?

Senior members kindly give opinion.
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Old 26th February 2007, 09:06 AM
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Default Re: Nifty showing divergence on monthly chart?

Quote:
Originally Posted by Apurv7164 View Post
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?

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

Best Regards,
--Ashish
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File Type: zip NIFTY_Wkly_Divergence.zip (89.9 KB, 35 views)
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Old 26th February 2007, 11:23 AM
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Default Re: Nifty showing divergence on monthly chart?

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.
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  #4  
Old 27th February 2007, 08:42 AM
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Default Re: Nifty showing divergence on monthly chart?

Quote:
Originally Posted by Apurv7164 View Post
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.
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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