Nifty should have corrected few days back. But it appears that Market Makers may not allow Nifty correction.
Renko charts (ATR 14 based) in Daily, 1hr, 30mion and 15min are solidly in the green. This could indicate an approx 80% chance that the market may continue to rise a bit tomorrow. Best not to trade in the index till after expiry.
Renko charts (ATR 14 based) in Daily, 1hr, 30mion and 15min are solidly in the green. This could indicate an approx 80% chance that the market may continue to rise a bit tomorrow. Best not to trade in the index till after expiry.
Trade active:
Shorted @10606 (futures price) for a strictly intraday trade.
Trade closed: target reached:
Closed @10570
Comment:
Scalping strategy... small price movements with many lots
Comment:
Most technical indicators suggest a correction. But Daily and 4 hr Renko (ATR 14) are still green. Best to short after expiry.
Comment:
New uptrend Renko brick starting on Daily chart.
Comment:
So the renko analysis yesterday was accurate. Nifty has gone above yesterday's high.