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Today's Summary
Thursday, September 24th, 2020
 

 NIFTY 50

10,805.55

2.93%

 SENSEX

36,553.60

2.96%

 FMCG   

   29,044.95   

0.95%

 MEDIA  

2,111.85

4.24%

 GOLD

49,517.00

0.02%

 USDINR

73.91

0.53%

Here are the best charts, articles, and ideas being shared on the web today! 

Chart of the Day
Today's Chart of the Day was shared on Twitter by Abhishek Chinchalkar (@abchinchalkar). It's a Daily Candlestick chart of Reliance Industries for the past one year. Abhishek points out that the price turned down after touching the 200% retracement level of the Fibonacci extension of the December '19 - March '20 decline.
Further, a bearish momentum divergence has formed over the past two months. A bearish momentum divergence occurs when prices in an uptrend make a Higher-high, while RSI makes a Lower-high. When this happens, it indicates that buyers are losing momentum and that prices could mean-revert lower. Price confirmed that divergence by closing below the July high. Will momentum bring further decline for the largest Nifty 500 constituent, or is this a logical place to retest the prior top?
Quote of the Day
 

“Things always become obvious after the fact”

 
 Nassim Nicholas Taleb
Top Links
 
Small Stocks, Big Failure - All Star Charts
Tom Bruni offers his technical outlook on Nifty Smallcap 100 Index.

Is USD/INR breaking out of downtrend? - FX Street
Rahul Gupta shares his chart setup for USDINR Pair.

Copper - Strong tussle between Bulls and Bears - Fyers
Abhishek Chinchalkar lays out some levels of interest to watch on Copper.

Silver Chart Setup - IndiaCharts
Rohit Srivastava examines the current wave setup for Silver. 
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