Nifty looks quite "OB" in the very short term. If it can correct from 4740 and keep the 4550 supports, another uptrend will gather strength. This is one possibility discussed here. Markets could decide to do otherwise too..keep getting higher. Daily close below 4650 will be the first sign of weakness.
Closing above "4635" on Friday will keep the momentum into next week. Very short term looks "OB" with some negative div. New settlement will start as per world cues and $ strength & weakness..
Holding "4650", Nifty could go higher inspite of -ve div.. Below 4650, it may fall to 4635, 4580.
Closing above "4635" on Friday will keep the momentum into next week. Very short term looks "OB" with some negative div. New settlement will start as per world cues and $ strength & weakness..
Holding "4650", Nifty could go higher inspite of -ve div.. Below 4650, it may fall to 4635, 4580.
3 comments:
Hi ilango,
New to your blog, visting from last few days. What is OB?
Thanks and Regards
Ruby
@RubyRed - "OB" = Overbought level
@Ilango - Nifty is so shy @ 4700 it seems, so let us allow -ve divergences :)
Regards
All the TV channel experts are predicting the market is bullish.We will shortly see 4800-5000 soon.Shanghai is struggling in negatives.Dow is directionless and seems to have left with not much of steam.No fresh triggers in Indian Market to move market forward.Everybody I think is afraid to say that we may go down.
Market amidst all these confusion neither moving up nor coming down.
What do u think?
In the mentime please do not stop your views on Intraday.Even if u donot give tips say something about the status.
Regards
Shankar
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