Market Internals as posted in SS's blog-Relative Strength has alerted on the improving internals of the Nifty Fifty. And that is worth a million to keep an eye on..Thank You SS...
Market never broke the 2-day swing low nor closed below 5 day avg/ema since its low of 2539. The previous high of "2970" and another channel resistance at "3035" are the levels to look out for in the coming days.
Ride this trend till a negative divergence develops or a 2-day swing reversal.
3 comments:
so, still there is no -ve divergence? little bit upset (selfish?) i burnt my fingers in friday's short position, but not went long...
hope u will post n forum if there is -ve divergence spotted 2morrow.... till time i will WNW
hi..Sujatha,
The moment Nifty started to trade above 2815 at the open, knowing about the Asian Upmoves & we being in uptrend, you should have reversed the trade. Or atleast after the "ORB" breakout at 10.10AM.
We are in "OB" region in hourly but no clear -ve div visible.
I think there are so many who will post on the -ve div. at VFM. I will also alert you..
Best regards.
ilango
Hi Ilango,thanks!
I think you are the only person keeping your views as neutral as possible day in and day out.It's a very difficult task and I really admire you for that.Keep it up!
Most of the traders / bloggers got caught on their wrong foot this time as they wanted to trade what was on their minds rather than what the market was doing.It makes a helluva difference.
Cheers!
ss :)
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