Nifty - Weekly Trend: After a bullish candle on last to last week, nifty has made an inside week with the price for the moment being resisted at 5359 100wema. The volume has been higher for the last consecutive 3 weeks. The two indicators are in buy mode and Money flow index is rising.
Daily Trend: All three short term averages are rising. Price has closed above all the 3 short term averages. Higher high and higher low on the daily candlestick has been formed. Price closed at 5284. MACD is in buy mode and above 0. Stocs will give a buy on Tuesday if the prices close positive. Money flow indicator is positive as well.
Trade - Go long at 10 am in nifty with stop loss being a close below 5284 on tuesday spot. Spot should trade higher than 5284 till 10 am on tuesday.
Tool - Either go long in nifty nov futures or buy 5500CE with stop loss mentioned above. (Note this is for my reference not a recommendation of any readers of this blog)
Note - Friday nifty - High - 5326, Low - 5257, Close 5284.
Note - Friday nifty - High - 5326, Low - 5257, Close 5284.
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