Those who doubt on “RELATIVE STRENGTH THEORY” : Here is the classic example of “Relative Strength” : See when Nifty was at 15770 levels RSI was at 72; when nifty came at 15900 levels then also RSI made 72 and it was “DOUBLE TOP” in RSI and from there see nifty cracked from 15900 to 15450 : 450 point straight fall. Now Again RSI is ready to make TRIPLE TOP at 15950-16000 levels. I am expecting fall in NIfty for target of 15200-15000 with stop loss of 16100.
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Refer a Daily Chart of Nifty For better understanding