Nifty Taken Support of 34 SMA With Positive Divergence at Lower Levels


Nifty Spot in the daily chart has shown divergence in the price with RSI showing Positive divergence, where the price has made a higher low and RSI has made a lower low. It has also taken the support of 34 SMA (11396 approx.), as the price is showing strength and buying opportunity is seen at lower levels.

Buy has triggered in Nifty Spot at 11470 with a stop loss of 11450 and a target of 11550 – 11651. The current levels are showing that the buyer is active and lower levels and want to buy at support levels rather than on breakout levels because of huge premium difference in Cash and future prices of Nifty.
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Nifty Spot in the daily chart has shown divergence in the price with RSI showing Positive divergence, where the price has made a higher low and RSI has made a lower low. It has also taken the support of 34 SMA (11396 approx.), as the price is showing strength and buying opportunity is seen at lower levels.

Buy has triggered in Nifty Spot at 11470 with a stop loss of 11450 and a target of 11550 – 11651. The current levels are showing that the buyer is active and lower levels and want to buy at support levels rather than on breakout levels because of huge premium difference in Cash and future prices of Nifty.
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