consolidating

Tech View: Nifty consolidating around Mt 23k for 3 days. What traders should do

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Nifty ended Tuesday’s session 44 points lower at 22,888 to form a bearish candle on the daily scale. The index is trading above its key moving average supports and the RSI on the daily chart is positive. “While we expect further upsides and new life highs in the coming sessions in the run-up to the … Read more

Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday

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Nifty on Tuesday ended 27 points higher to form a small positive candle on the daily chart while consolidating in a range between 22,400-22,600 levels. The index continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 56.38 is rising and not overbought, which is encouraging. The … Read more