NIFTY RETREATS

After a long lasting rally ,where Nifty made a high of 6349, a reversal was expected. The gradual descent commenced on 5/11 and Nifty is sill finding its support. It on the verge of hitting 50% retracement at 5845 but since the difference between both lines on sotch are going wider I can assume Nifty is gonna touch 61% level that happens at 5725.

HAPPY DIWALI

MAY THE LIGHT OF HAPPINESS LIGHT UP YOUR LIFE. MAY THIS DIWALI BE THE MOST SPARKLING AND LIGHTENING. THE SIGHTS AND SOUNDS FILLING UP YOUR HEART WITH JOY AND HAPPINESS.

WISHING YOU ALL A VERY HAPPY DIWALI.

Silver Lining

Silver has shown an unprecedented rally in past few week. The prices sored more than Rs. 1000 in last two trading session. Unprecedented move upside or downside always follwed by unexpected reversal. And that what goin to happen with silver prices. In festive season people are going bullish on silver. Now the question arises when and how silver is gonna correct. Lets have a look on EOD chart and you may perceive the imminent doom.

Its negative divergence on RSI. Notice the difference in volume on both peaks. Hope you might have got an idea what gonna happen with silver.