The first rise off 5359 had a 2 days of pause candles(red) and now the second rise off 5474 has generated a similar 2 days of pause candles(but blue) and Friday need to follow up on these consolidations.
Unlike the earlier shallow correction from 5513 to 5474, the correction is deep this time(law of alternation) from 5625 to 5568. Staying sideways for another day may weaken the TA set up.
Pause during rises generally help the lagging sma/ ema to catch up with the index which helps the index to build a support base during deeper corrections. For a trader, this facilitates locking in the profits.
Unlike the earlier shallow correction from 5513 to 5474, the correction is deep this time(law of alternation) from 5625 to 5568. Staying sideways for another day may weaken the TA set up.
Pause during rises generally help the lagging sma/ ema to catch up with the index which helps the index to build a support base during deeper corrections. For a trader, this facilitates locking in the profits.
6 comments:
Sir...
Friday is a holiday. So tomorrow is the only day left in week.
Sir, one question - in all likeliness, tom. will be a 30-40 pts. gap up - my question is, generally when there is a gap-up - NF goes down for 10-15 pts because of OB - but has it ever happened that despite gap-up - there is a fast rise immediately after the open?
Dear Ilango,
Very important.Will just follow screen,the price.Have taken the note of "Staying sideways for another day may weaken the TA set up."
rksurya
your nifty heat map is fine and very useful. If you could also combine in that , pivot, support/resistance ,EMA s (if possible), this will be of very great help
We expect , niftymidcap,nifty junior ,IT,Banking etc so that the blog will be complete in all respects
Congratulations
Bala
really very practical ideas from bala. if possible surya may seriously consider including all this information, maybe step by step.
I think it should read as 5625 to 5568.
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