DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
CNX NIFTY (5,945.70 ) +82.40 +1.41 %
Nifty has been zooming since the last 4 trading sessions.The oscillator chart, which is below the Price chart had been holding me back from giving a sell call for the last 6-7 days or so.Even now the Oscillator is pointing up and has some space left to go if it wants to.Also on Friday, the market jumped above the Pink trendline with a gap.On the flip side the market has retraced 61.8 % of the fall i.e at 5940.As I had already mentioned that a move above 5971 negates the bearish Shoulder head shoulder pattern.
CNX NIFTY (5,945.70 ) +82.40 +1.41 %
Nifty has been zooming since the last 4 trading sessions.The oscillator chart, which is below the Price chart had been holding me back from giving a sell call for the last 6-7 days or so.Even now the Oscillator is pointing up and has some space left to go if it wants to.Also on Friday, the market jumped above the Pink trendline with a gap.On the flip side the market has retraced 61.8 % of the fall i.e at 5940.As I had already mentioned that a move above 5971 negates the bearish Shoulder head shoulder pattern.