16th Aug - Market structure update
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TATASTEEL - 1m real downtrend, 5m decline lacks strength. So no plan for SHORT as of now..
NIFTY - 1m real trading range - 11437 - 11401. Price tries to test the range high. Moderate selling is seen there, lets see if it is able to break above the opening range
BANKNIFTY - 1m real trading range from 28100 to 27860, A big wide range indeed. Inside pivots are making an uptrend. Lets see if it gives any tradable long through this inside uptrend. But 5m rally seems to be loosing strength
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TATASTEEL - 1m real downtrend, 5m decline lacks strength. So no plan for SHORT as of now..
NIFTY - 1m real trading range - 11437 - 11401. Price tries to test the range high. Moderate selling is seen there, lets see if it is able to break above the opening range
BANKNIFTY - 1m real trading range from 28100 to 27860, A big wide range indeed. Inside pivots are making an uptrend. Lets see if it gives any tradable long through this inside uptrend. But 5m rally seems to be loosing strength