This is a hourly Nifty chart. We have already seen Nifty touch nearly 3500 as expected. Today we saw a very volatile trading session. I have a feeling Nifty can rally from here ...Wait a minute!! Bear market not over yet.. This will be rally in bear market. So let us see what Nifty is telling us. As seen from chart we see that RSI has give a breakout from triangle formation coupled with positive divergence. Macd histogram had given a positive divergence and Macd has given a buy. We feel that Nifty can rally to 3800. There is a gap above that. Nifty can try to fill that gap and touch 4000, may be by this month end(Diwali rally?). Keep a tight stop loss for all trades.
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