These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.Astute traders will notice that there was a small gap open on 27 December 06 on the Nifty. I have marked out the rising gap on the chart in blue. That gap is now being tested in the congestion range, also marked out on the chart.
Which suggests that the strong hands do not want the gap to be filled, and want the weaker bulls to enter the market at higher levels. Therefore, it is logical to expect that the market could move higher.
The Bank Nifty has made a bullish formation on the intraday charts, and we could see some strength coming back into this Index. On the other hand, the CNXIT could witness some more weakness, purely due to profit booking, and not due to any bear strength.
Therefore, as suggested earlier, we could see the trend for the Nifty could resume upwards from Tuesday.
Trade happy.
Which suggests that the strong hands do not want the gap to be filled, and want the weaker bulls to enter the market at higher levels. Therefore, it is logical to expect that the market could move higher.
The Bank Nifty has made a bullish formation on the intraday charts, and we could see some strength coming back into this Index. On the other hand, the CNXIT could witness some more weakness, purely due to profit booking, and not due to any bear strength.
Therefore, as suggested earlier, we could see the trend for the Nifty could resume upwards from Tuesday.
Trade happy.
3 comments:
GAP DOWN ON 8 JAN MORN JUST LIKE U SAID !! I LOVE U SIRJI !!
REG
KETAN
I must say, I never suggested a gap down open on Monday.
All I suggested was weakness, and a possible bottom on Tuesday, for the short term
Dusant
NO MATTER WHAT U SAID, I STILL LOVE U ! ITS UNCONDITIONAL HAHA !
REG
KETAN
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