In this analysis, we will try to understand the sustainability of the index towards this uptrend. As per my previous analysis, nifty50 has taken the support of the sub- support zone and gained strength near about entier month of April 21 and in the month of May 21 once again it has broken S1 and moved firmly upward and at last given a breakout by breaking Brothers Candle with the strong green pillar on it.
On the other side, RSI is also in a positive mood where it continuously adding +ve Beta's with every percentage move of the asset upwards. Overall it is a bullish scenario in this daily chart.
Now once again there is a question of worry is there...
Where is the glitch!
The open interest Analysis showing COI is decreasing with the increasing sets of the price which means in the coming days is increasing in the volume in index trading is very much required else the price action will fail.
I can see the probability of touching 15432 ie.R1 is high but only the +ve volume support can create this move sustainable.
On the other side, RSI is also in a positive mood where it continuously adding +ve Beta's with every percentage move of the asset upwards. Overall it is a bullish scenario in this daily chart.
Now once again there is a question of worry is there...
Where is the glitch!
The open interest Analysis showing COI is decreasing with the increasing sets of the price which means in the coming days is increasing in the volume in index trading is very much required else the price action will fail.
I can see the probability of touching 15432 ie.R1 is high but only the +ve volume support can create this move sustainable.
