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nifty tracker |
shaadoo
White Belt
Joined: 22 Jul 2010
Posts: 153
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Post: #1  Posted: Thu Mar 10, 2016 6:07 am Post subject: nifty tracker |
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Nifty is trading in an uptrend with continuous gap-ups and intraday bull rallies, but in last three days we have seen NIFTY struggling to move further.
last three days on daily charts hanging man, DOJI and lastly bullish engulfing at the top respectively. this all indicates the steam for bull has over and a fresh new correction may be witnessed.
todays first 30 mins will be trend deciding and if nifty manages to go below 7470 odd levels then we may expect the trend has reversed.
friends lets see what happens
simply shaadoo |
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AMBY
Yellow Belt
Joined: 05 Sep 2014
Posts: 503
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| Post: #2 Posted: Thu Mar 10, 2016 9:51 am Post subject: |
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shaadoo
White Belt
Joined: 22 Jul 2010
Posts: 153
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| Post: #3 Posted: Thu Mar 10, 2016 9:32 pm Post subject: |
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On daily charts, if we closely track the pattern, we can find that NIFTY spot is having a bearish cloud cover formation.
Nifty opened almost 14 points positive and in very first minute of trading a selloff was seen and market started falling like anything.
further commenting on trade and trend- we can suggest to go short on NIFTY future in the range of 7480-7500 for the target of 7400-7320 and with the SL at 7600 levels.
market has exhausted its bull run and a fall is expected.
let see what happens..
simply shaadoo |
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