Indigo took support on an important rectangular area. It re-tested but got resistance from 50 EMA. It will come and retest the support line and then can either break sharply upwards or downwards.
INDEX CAN BE SHORTED WITH SMALL RISK
Superb bounce after flirting around 200 SMA.
ADANI ENTERPRISES - GOOD TO BUY NEAR 305-308 LEVELS GOOD TILL IT BREAKS 300
Price was moving on a trend line and it was expected to take support for the one last time before fall, but it went down straight away. If we consider the triangle pattern price should have taken support and move towards the top of the triangle and breaks up else it should come down and break down, but it breaks down excluding both the move. From the above...
if you see on daily TF, price moveing in descending triangle when price brek the pattern then put the trade and stoploss ..
As DOW said market had THREE Phaces :- ACUMLATION PHASE means where Astute Traders buy ,PUBLIC PARTICIPATION PHACE where TREND FOLLOWERS buy & DISTRIBUTION PHASE where normal peoples(BEGGINERS) Ifluence by POSITIVE News about Economy
Reliance daily chart Fibbo level .23% It may take an support here . Because the volumes are below average on monthly ! Lets see where it goes.