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.
It does seem that the Nifty has paused here.
The Bank Nifty, which did the most damage in the last two days, has also staged a resurgence. Further, on the chart, I have also included the 5 minutes chart in close-up. It does show a steady upward direction, with higher tops and bottoms. Therefore, in all probability, we have seen a most significant bottom yesterday.
The volumes on the Nifty Future also suggest the same.
On the chart, we see the several resistance zones which the Nifty needs to overcome, so the going is going to be tough. But, as suggested, the trend should continue upwards.
For investors, it could be suggested to take positions in market leaders, and Index components, as they would lead the sentiment. Look as the second rung stocks later.
For speculators, it could be suggested to hedge long positions as the Index may still give a few heart beat skips.
Trade happy.
It does seem that the Nifty has paused here.
The Bank Nifty, which did the most damage in the last two days, has also staged a resurgence. Further, on the chart, I have also included the 5 minutes chart in close-up. It does show a steady upward direction, with higher tops and bottoms. Therefore, in all probability, we have seen a most significant bottom yesterday.
The volumes on the Nifty Future also suggest the same.
On the chart, we see the several resistance zones which the Nifty needs to overcome, so the going is going to be tough. But, as suggested, the trend should continue upwards.
For investors, it could be suggested to take positions in market leaders, and Index components, as they would lead the sentiment. Look as the second rung stocks later.
For speculators, it could be suggested to hedge long positions as the Index may still give a few heart beat skips.
Trade happy.
1 comment:
was not able to post since 3 days due to blog updation (lack of it) - sorry sirji ! great guns as always !
reg
ketan
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