Markets◆ Mixed
Nifty price-RSI combination indicates a potential bullish divergence, says Anand Rathi's expert
· LiveMint Markets
According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, the index is trying to establish a durable base, while the price-RSI combination indicates a potential bullish divergence.
The analysis
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- A market-wide development: it reaches beyond any single stock.