Beware of fake BB blast
Updated
Daily (SGX NIFTY) Bollinger Band is rooted at its median. So not expecting any big trends.
Since shorter time frames on sgx nifty show a brief upward movement might feint a Bollinger Band Blast/Breakout by the time Indian markets open.
Yesterday's Oi as well post indian market movement on sgx nifty futures show a decent support around 14850.
Hence expecting sideways market overall. Though intraday as always would still experience its usual highs and lows.
Since shorter time frames on sgx nifty show a brief upward movement might feint a Bollinger Band Blast/Breakout by the time Indian markets open.
Yesterday's Oi as well post indian market movement on sgx nifty futures show a decent support around 14850.
Hence expecting sideways market overall. Though intraday as always would still experience its usual highs and lows.
Trade closed manually
100 and lower period moving averages might show a bullish signal but the strength is starting to wane down. Have a tight trailing Stop loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.