resistance + bad result + rsi (over bought) ->short
if 2 red candles develops than go short.
SL: 224
short if candle sustain below 221.
T1->212
T2->210 (swing)
The price is fixed above the psychological level of 1.4 at the moment. So we expect further growth of our pair.
It has overcame the resistance level and had been over the upper boundary of the triangle. Therefore, we will expect further price advance up to approximately the level of 1.42 from which a price correction is possible.
Nifty
Previous Close 11027
Good Morning to all of you...
Its Budget day today
What will it be like...
Will we see Corporate tax relaxation
Will the Common Man get some relief in Income Tax
Will we see changes in Long term Capital Gain tax...
What will happen to Fiscal Deficit etc...etc
So many questions... So many possibilities... All will be answered today ...
LICHSGFIN is trading in a downward-sloping channel for the past six months. Today it has given short-term breakout above swing high of 577 which coincide with 50-day SMA. It has now resistance around 590-591 trendline zone. It needs to close above falling resistance trendline for trend reversal which will take stock towards 660-675 zone.
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