We are close to reversal in Nifty

14 Ağu 2022

NIFTY is near the trendline from the high made in October last year. Breakout point is around 17800 but it may turn out to be a false breakout, if that happens. RSI is high and when RSI breaks the trendline on closing basis, we might have a confirmed trend reversal which could last for sometime. Exiting longs above 17800 may be a good idea. Keep an eye!