Above chart is weekly nifty chart of past three years. Look at the bollinger band width. It is minimum in last three years & has started to increase. Another observation is NS price is above the band.
Let us try to understand the market whether it is bull or bear market. I am putting it simple. If both EMA(low,5) & EMA(high,5) are above EMA(20) then it is bull market, buy on dips.
If both EMA(low,5) & EMA(high,5) are below EMA(20) then it is sell on rise.
If One is above & another is below, market is neutral.... Views invited on this. Remember the chart is weekly. Jai Hoooooo.........
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