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Sensex may reclaim 62,000, Nifty 18,000 if these levels are conquered

Positive divergence may push Sensex and NIfty in a bullish trend for coming sessions, show technical charts.

Illustration: Binay Sinha
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RSI divergence triggers a positive bias

Avdhut Bagkar Mumbai

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The BSE Sensex, Nifty 50 and Nifty Bank have closed on a strong note in the March expiry, with the oscillator reflecting a positive divergence. The resilient move in the final hour of the derivative expiry strengthened the Relative Strength Index (RSI).

Positive divergence happens when the technical oscillator leaps over the previous reading, while the price trails to cross its last peak. This structure denotes underlying strength of the indicator, suggesting the trend is anticipated to move in the same direction. 

All the key indices endure positive divergence now, which is intended to be directional for a short-to medium

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First Published: Mar 31 2023 | 11:36 AM IST

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