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Nifty 50 Index
Short

Bearish RSI divergence in Nifty, indicating a potential decline!

By GoodluckCapital
  • Since October 2023, Nifty has demonstrated a robust upward trend, reaching an impressive peak of 25,333, marked an all-time high.
  • However, the index has recently faced a setback, pulled back from this peak and currently indicating a downward movement.
  • A significant bearish RSI divergence is evident on the daily chart, signaling a further potential decline for the index.
  • On the downside, important support levels are lies between 23,900 and 24,100.
  • It is crucial to recognize that a break below this support could lead to a significant drop in the index.


Chart PatternsgoodluckcapitalindexanalysisindianstockmarketindianstocksTechnical Indicatorsnifty50niftyoutlookniftypredictionsebiregisteredsensexTrend Analysis
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