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.Is the market open to manipulation? The answer is an unequivocal … yes!!! We see a large lower shadow on the Nifty, which could possibly be due to a “freak” trade on one of the Index component stocks. In all probability it could be Bharti Airtel. Just goes to show, what can be done to the market, and how technicals need to be analysed with a pinch of reality.
Friday 23 was a small spinning top candle, which is a precursor of a correction. Today we have seen one such day. In all probability we could see short term weakness continuing till Wednesday or Thursday. After that, we may see the uptrend resuming.
We see on the active futures, that volumes are increasing on dips which are supporting the market up. Therefore, we could assume that the trend is going to resume upwards in a couple of days.
These dips could be used to buy.
Trade happy.
2 comments:
Ongc dropped Rs 13 and bharti and wipro too droped suddenly on vols of <20k
Bharti -70 on volume of 38886
Wipro -40 on Volume of 32484
ONGC -18 on Volume of 55205
SunPharma -18 on Volume of 4091
TataPower -7.45 Volume 445
all trades have time of 3.00.25
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