NIFTY Observation
I am not sharing any trading idea in this, as price is between zones hence no trade can be initiated from current price point.
One can consider that we have already taken support of demand zone below the price and trade, but it will be assumption only. I will not trade till the time my parameters of trade are not fulfilled.
What i want to share in this chart is divergence on price and RSI indicator. The divergence trades can utilize this opportunity. As shown in the chart price is at the 88% of fibonacci level which is considered strong point for reversal.
127% is not matching the zone but 161% is this may indicate something.
We have structural top placed at 8129 and bottom at 8048. These two points will be important in next 2 days trading and may be after that also.
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