But Trin is getting Bearish Day by day and now at 2.81 which indicates
Strong Bearishness(delivery based selling) on monday. Possibly Nifty may off from its high on monday.
As per 5 EMA Strategy though there is a buy signal in nifty daily charts. But when applying the 5 EMA strategy to weekly Nifty charts(Multipe Tme Frame Analysis) suggests that we are near to resistance zone 2750-2850 levels and still there is no buy signal as per 5 EMA strategy. Buy signal in weekly charts comes only above 2850.
And 2 period RSI(SCO) value is currently at 66.07(Previous day close – 1.33 ) which indicates a neutral singal. If SCO closes below 25 in coming week will lead to strong sell off in nifty followed by lenghty red candles.
Overall Nifty is bearish for the coming week, especially on monday and closing above 2800-2850 is required for a strong uptrend to sustain by next week else once again give your kisses to bears.