Nifty
Time frame
|
Trend indicator
|
Lead indicator
|
Candlestick
|
Conclusion
|
Weekly
|
Sell (-16)
|
Sell at 30 levels
|
Downward continuation. Prices closed below 200wema with high volume
|
Prices likely to move down
|
Daily
|
Sell (-17)
|
Sell at 24 – so entering oversold zone
|
Downward continuation. Little positive divergence. Formed a new low. Prices in zone where earlier were supported.
|
Prices likely to move down but risk reward ratio now not in favor of shorts
|
Monthly
|
Sell (-156)
|
Sell at 20 – so has entered oversold zone
|
Continuation candle
|
Bias is down.
|
Action - No New Shorts to be taken in this zone. Index remains sell on rallies.
No comments:
Post a Comment