Nifty InstaView 15 Feb’21: One Way … away away away

Nifty View: High momentum positive start to the week as Nifty surges further ahead towards 15,400. Today’s move was banking & financial heavy as the BankNifty index gained over 3.5% for the day. A look at the 75min chart of Nifty, and we can observe the index inching close to the upper border of the red rising channel at 15,400. Considering the underlying momentum with which the index rallied, a test of 15,400 and higher should not be an issue. Alerting signs of price-momentum divergences are getting negated one after the other which is a sign of strong UP trend. Short term supports to work with are now at 15,200 and 15,100.

Thank you for following my work and please feel free to share your thoughts and suggestions.

Trade Well. Trade Wise.