A spining top at resistance line is a concern. keep caution is better at this level. while the trend is up and expecting more high level, these level are to be honored with high respect :D
Comments
Parasuram
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//this is not a precise charting line// similary when we trade Nifty futures, why are we looking at the Nifty spot charts. I know it is underlying value and long term data it is useful.. But the price we trade is the futures.. Your take on this please
padiyara
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@Parasuram,
I am not purported to give any trade call here, this this just to learn probable market level based on direction,
momentum and volatility. if one can use it wisely, i am happy.
similarly. as you mentioned. it is the underlying index, and i am familiar with it. In the earlier 90s, we were having yahoo forums,
and I used to post in groups, following BSE charts for knowing market Direction.It all same, doesn't matter much, one must be aware
of the movement, the gaps etc. if the chart is having a flow it will be more continent to grasp the move.