Time for some home grown charting!
The upper chart shows how Breadth of the market defined by Advance minus Decline and as seen its not going anywhere, so some kind of break out in near future should be expected.
The lower chart shows Close - Weighted price of Nifty. I have noticed earlier and marked again how this kind of negative divergence has lead to fall in market.
Combining the findings of the two and monitoring them in future if Nifty moves down and there is a break down in breadth. Look out below!!
The lower chart shows Close - Weighted price of Nifty. I have noticed earlier and marked again how this kind of negative divergence has lead to fall in market.
Combining the findings of the two and monitoring them in future if Nifty moves down and there is a break down in breadth. Look out below!!
1 comments:
Interesting blog.Btw can you explain Close -weighted price of Nifty?
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