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#1
11th October 2004, 03:28 PM
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Is a correction expected soon?
Is a correction expected soon(or started)? All stocks have run up a lot since the last few trading sessions.
What do the charts suggest Traderji? 
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#2
11th October 2004, 04:10 PM
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NSE Nifty forming a bearish divergence!
Quote:
Divergence Occurs when the trend of a security's price does not correspond with the trend of an indicator. Divergences are sometimes used as contrarian indicators. Oscillators are most useful and issue their most valid trading signals when their readings diverge from prices. A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again--often a bullish divergence marks the end of a downtrend. Bearish divergences happens when prices rally to a new high while the oscillator refuses to reach a new peak. In this situation, bulls are losing their grip on the market, prices are rising only as a result of inertia, and the bears are ready to take control again. This is exactly what is happened in the NSE Nifty Index (see attached chart). A classic bearish divergences occur when prices rise to a new high but the oscillator can only muster a high that is lower than exhibited on a previous rally. Thus bearish divergences often signal a sharp and significant reversal toward a downtrend. The level to watch for a confirmation of this bearish divergence is a close below 1790.00 (which is also the lowest level over the last 5-7 trading sessions).
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#4
12th October 2004, 03:41 PM
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Re: NSE Nifty forming a bearish divergence!
Quote:
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