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We might get entry as result of election. Stay ready for long on nifty.
is RELIANCE forming a megaphone pattern? interesting..
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Reliance all achieves all targets and looking really hot ,
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NIFTY INDEX TREND SETUP -NIFTY WITNESS ONE OF THE WILDEST SWING THIS WEEK -THE CRUCIAL PART THAT I AM EXPLAINING EVERONE IS THAT 9950 WAS NOT BREACH ON A WEEKLY CHART AS WELL ON DAILY -THE SHORT COVERING RALLY IN THE INDEX PROVED TO BE VERY VITAL -THIS INDICATES THE STRENGTH IN BUY ON DIPS MARKET -20 AND 50 EMA WERE TESTED GAPS WERE CLOSED AND THE PRICES...
Volume divergence has been unfolding for last 2 weeks and it finally broke down below trendline with good volumes. it is below 200 SMA and all major indicators are showing divergence.
Buy when both the seprt trends give buy signal and add more positions when MA RIBBON turns green ,stoploss should be the minor supertrend tthreshold simillarly with sell, sell when both the supertrends gives sell signal, increase positions when MA RIBBON turns red. Keep an eye on itrabar volumes always.
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Today's weak opening and recovery so far looks similar to the lower circuit and recovery on March 12, 2020, we know what followed next. BOTTOMS are RARELY made in V shape. They consolidate before gaining momentum. Intra day and stock specific would be a different matter, else let the mayhem fizzle out then look for reversals. Resistance at 9800.