NIFTY: Results and Rains!
It is half time. It is not half full or half empty time.
It is about what will spill after it is full or empty. It is rainy time as well as results time.
Tech Sector starts with results, unlike the previous cycles this time, that looks on stronger footing.
Are we to witness rise first and fall later or rise and rise.
Many stories are rinse repeat and hence, carrying an umbrella is advisable, but when it is downpouring, it's use is very limited.
Lots of economic data ahead in addition to results, Inflation data from China and US to start with.
Political din reduces in UK after clear victory, while it remains on the watch in France, US all eyes on the democrat presidency.
From the attached Graph which is bi-weekly, and the PIP is the intra-day.
The current disposition is hanging man, again just appearance of the pattern is not sufficient, it has to tick as many boxes as possible, look the 9 conditions of the Candle Sticks.
The PIP is intraday, lots of stars and pattern, just a gap filling exercise.
There is no negative divergence, but candle stick pattern can reverse sometimes without that requirement. Thus watch Candle closing Wednesday. By that time the inflation data is reasonably out.
The large Maribouzu Candle half way back point is around 24128 that is the trigger for more losses.
From Many angles move past 23800 is an excess, market always surprise you on either side with rotation.
Support 24280-24230-24180
supply 24360-24395-24430
It is about what will spill after it is full or empty. It is rainy time as well as results time.
Tech Sector starts with results, unlike the previous cycles this time, that looks on stronger footing.
Are we to witness rise first and fall later or rise and rise.
Many stories are rinse repeat and hence, carrying an umbrella is advisable, but when it is downpouring, it's use is very limited.
Lots of economic data ahead in addition to results, Inflation data from China and US to start with.
Political din reduces in UK after clear victory, while it remains on the watch in France, US all eyes on the democrat presidency.
From the attached Graph which is bi-weekly, and the PIP is the intra-day.
The current disposition is hanging man, again just appearance of the pattern is not sufficient, it has to tick as many boxes as possible, look the 9 conditions of the Candle Sticks.
The PIP is intraday, lots of stars and pattern, just a gap filling exercise.
There is no negative divergence, but candle stick pattern can reverse sometimes without that requirement. Thus watch Candle closing Wednesday. By that time the inflation data is reasonably out.
The large Maribouzu Candle half way back point is around 24128 that is the trigger for more losses.
From Many angles move past 23800 is an excess, market always surprise you on either side with rotation.
Support 24280-24230-24180
supply 24360-24395-24430
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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