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 was suggested yesterday that the Nifty may encounter resistance around the earlier zone. The interplay between the support and the resistance will now determine the future of the Nifty. In fact the Nifty has made a short term bullish formation, but fell back sharply from the high of the day. If the Nifty is able to break 6015 towards the upside, and does not violate 5875, then we could assume that the short term trend has reversed to up.
Going ahead, it is expected that the Index could remain flat to weak for Friday and even Monday, and then consolidate on this short term bullish formation.
I can only repeat yesterday’s statement. Let the negative sentiment be weaned out of the system and then think of buying again. Please wait for a short term bullish formation and then take a risk for buying. As we know very well, bottom fishing burns.
Trade happy after planning your trade.
1 comment:
AMAZING clarity sirji ! simply gr8 ! Thank you from the bottom of my heart ! its not the trading style, its the mind that wins money ! now i know !
reg
ketan
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