Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

No More New High’s in Nifty

33 sec read


 

Charts shown here is the one year weekly charts with 2- Period RSI combination behind the price. As Per the 2- Period RSI pattern formation we are in a TOP formation which could extend 3-5 weeks. And right now we are about to complete the 3 week tommorow.
Also as per the pattern no new high cant be made.

Red Rectangles Shows that we are in a Top Formation and the Blue lines indicates
the TOP where RSI>95

This Pattern will fail if new high are made. If you are a 2- Period RSI believer. Then short the market at high with a strict stop loss of 3124 which is just above the new high formed last week. And one can continue his shorts until no new highs are made.

Market will loose its fake upside game after 1-2 weeks later without seeing a new high.

 

 

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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