Nifty may not have bottomed yet? Neither is a top in place?.

9 ago 2022

Presently, the current uptrend does not seem exhausted with daily and hourly RSI indicating possibility of yet another rally of 500-600pts becoming overbought. Hourly RSI has already started a divergence with price not confirming it yet. We may be heading to a freak top at say higher than the last swing high of 18050 beating it may be by 100-150points before turning for a climax low in September. This is just an opinion loosely held, however a possibility that might offer a big and a swift swing trade. Tgt if a proper rejection comes could be 14200-14300. However last swing high beating by 150+points say i. E 18300+ would negate the view. This view is for the second late half august and for September!Thanks. I had similar views at the last swing top and expected similar tgts which did not come. Just looking at possibilities. Trade as it comes. Take care!

17 ago 2022

Nota

As per my view, a top might be in place tomorrow or on friday. A short at about 18100-200 may be taken with stops of 18350 for a tgt deep below possibly as low as 14250. A trail of 700points may be used to exit if tgt fails to reach.