Below is my view for NIFTY for coming week
1. April 14 : Trading Holiday
2. April 13 : Lock down extension news
3. There could be some news on stimulus package, but I think it is not going to be enough to create sudden jump on the upside.
4. But with current momentum NIFTY could well go up first 9400 - 9600.
5. Hence intraday positions should be on the long...
Trading trapped shorts
1. After decent uptrend, the first lower low is not actually shorting opportunity.
2. Second short could have been avoided if waiting for trend line break is confirmed on shorter time frames.
Pattern - Falling wedge
As per technical Wockhard will touch 413-414 first
And it will break it successfully
then we can see 419-424-4324-442 and more (short/Mid term)
This post is only for study purpose
Dena Bank is showing bullish divergence with respect to money flow index. Also the price is in a tight range since August. It may break from the range soon. Can it be a breakout? Please share your thoughts.