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stockMode::Important NIFTY update - Part 2 |
stockmode
White Belt
Joined: 08 Jan 2007
Posts: 79
Location: indore, india
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Post: #1  Posted: Tue Mar 11, 2008 11:24 pm Post subject: stockMode::Important NIFTY update - Part 2 |
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In continuation with the previous report at http://www.icharts.in/forum/stockmodeimportant-nifty-update-t779.html
In the previous NIFTY report it was said that the “mudgal crash oscillator – fast “ has given a buy signal although the seling pressure is intact ( indicated by the red diamonds on the chart attached )
The market has moved down after that to the support line ( the red line ) and we were of the opinion that the faster crash oscillator will give a sell signal soon. Surprisingly, it was about to give a sell signal by entering in the positive zone ( indicated in the yellow circle ) but moved back again today sharply. Giving us some reason to believe that we may see a strong upmove for short term. The targets for the same will be 5193 > 5927 > 6111.
This, however, is a very optimistic view and we will NOT GO LONG unless and until we get more reasons to buy like the red dots turning into blue ( selling pressure turning to buying ) and the “ mudgal crash oscillator – slow” should also give a buy signal. Until then, an upmove, if any, could be used to reduce position.
Regards
Bharat Mudgal |
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