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NIFTY-1M....5tf |
sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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Post: #1  Posted: Wed Sep 30, 2015 9:09 am Post subject: NIFTY-1M....5tf |
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NIFTY-1M....5tf
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Nifty gapped down and then up and up.. testing high of previous rally... could not sustain high and came down... breaking Upside pivot(on 5tf) at 7873 .
Normally, in a strong rally such pivot break happens to test opposing side strenght.. If bulls are really strong then will take it again above 7900, which may propel it towards 8000 level...
However, if bear overcome the bullish pressure and price gets rejected from pivot zone (7890-7900) , then 7775 and 7715 are possibilites.
This is my personal view, please check with your study. |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2 Posted: Wed Sep 30, 2015 9:10 am Post subject: Re: NIFTY-1M....5tf |
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| sumesh_sol wrote: | NIFTY-1M....5tf
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Nifty gapped down and then up and up.. testing high of previous rally... could not sustain high and came down... breaking Upside pivot(on 5tf) at 7873 .
Normally, in a strong rally such pivot break happens to test opposing side strenght.. If bulls are really strong then will take it again above 7900, which may propel it towards 8000 level...
However, if bear overcome the bullish pressure and price gets rejected from pivot zone (7890-7900) , then 7775 and 7715 are possibilities.
This is my personal view, please check with your study for any trades. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #3 Posted: Wed Sep 30, 2015 9:16 pm Post subject: |
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| Very nice indeed..... Low was around that 7874 |
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