Today We saw a mixed day, by EOD we saw the rejection from upside and it is reflected on the daily chart.
Our levels worked very well today too.
Today it has formed a shooting star kind of candle but not perfect, basically we consider this candle as sign of reversal when market traded near to the resistance zone.
But nowadays sentiment is positive...
Today I was expecting a bullish move and it was but in last hour we saw selling pressure from 11946 level and my resistance level was 11926.
Now on the daily chart it has formed long upper shadow with little body.
By looking at the daily candle of today, I am bit bearish because there is a resistance on weekly chart and 11926 is the weekly...
Today we saw consolidation at the upper level. And formed a bearish candle with rejection from lower level on daily chart.
Above - 11880 go long for 11967 - I am expecting this to work
Below- 11814 go short for 11755
Today we saw a very good move and long position build up. Today’s resistance point was 11800 and it worked very well today’s high is 11809.
I am bullish and looking for more 170 points of move in tomorrow session and and it will touch 11970, “The market which was already trading with a positive bias picked up momentum after media reports suggested...
On previous trading session nifty gave a good intraday move. And it made high of near around 11695.
Since previous two week we saw a bullish movement.
Today exit poll announced in Maharashtra and it going into the favour of BJP and market may be looking it as a good sign and expecting a stable government.
Literally I was not expecting this much move, but I was bullish above 11480 and this worked very well and from this level nifty gave a handsome move till 11598 and I drew trend line at this level only.
After this move buyers has gained the control over sellers and I am expecting this move to continue till 11700 which is a...
As expected, today nifty has moved nowhere, on daily chart it has formed a doji candle, which is a sign of confusion between buyers and sellers.
Most important nifty has changed it’s way of movement and gone flattish. After a three days of slow bull move today it took a pause
As nifty has changed market structure then its time to be cautious, My...
As expected, () nifty gave a slow move towards upside and the same we expected.
It broke the channel but was not able to sustain above it and came back in channel at the end of the day by forming the upper shadow, this upper shadow shows the sellers strength at the level.
Today it was a range bound day, not much move.
On Daily chart Nifty has formed a Doji kind of candle, but as there is no trend and it is in the middle then it is not worth to think about it.
So what next?
Tomorrow I am expecting a bullish day by looking at the market structure and structure is higher high and higher low. Above 11430 I am looking to buy, but...
Often we see situations like above chart where it is difficult to decide which trendline is correctly drawn. Truly no one can actually tell which trendline is more correct than the other. And Is it the break of AB or AC or DE which should be considered to take the trade?
When ever there is such a situation, it is wiser to give secondary importance to these TLs ....