Can look for shorting opportunities if it sustains under 690. Upside resistance is 700-705.
If it fills the gap made on 27-oct-19 opening, then chances are it can go up, otherwise will look for downside under 690.
divergence in last two weeks.
Says we can see downfall in next 4-5 sessions.
1st profit booking under 690 is 675. For upside sky is the limit as it is playing near all time highs.
Results are almost neutral. However they are not negative also, so we will be cautious by that point of view.
On option chain too, people are looking 640 being a big support & 700-720 being major resistances.
On intraday basis, short term moving averages 13+21 are touching price indication the weakeaning of trend.
However long term moving averages are below price being a stability for it as of now.
is declining indicating trend turning weaker.
DMI+ & DMI- converging, coming closer. Once DMI- crosses above DMI+ & crosses above 25, short signal will be confirmed and generated.
also crossed below 0 and sell signal already generated at 695-698 levels.
Best is to wait for either 690 to be crossed & sustained or 700-720.