FII's have started to sell, after 9 days of buying- a resumption of consolidation within the major uptrend.
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend)
The ST direction is "biased UP", as long as prices stay above 7760 & close above these two key averages (21 or 34 hr smas).
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
Aggressively Holding above 7760(21 Hr Sma), Conservatively Holding above 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....
Aggressively Holding below 7760, correction could resume....
(VIX range for the day is 7735-7835.)
10 comments:
To the ONE Man who makes like soo much better,soo much more beautiful. The JONATHAN LIVINGSTON SEAGULL in our lives.For his unrellentness thriving,for being the patient teacher 2 the many Fletcher Seagulls amongst us. For having borne the criticism of the Flock, and yet for having made us see what he has always BELIEVED IN.
Ram Kumar Illangovan. A verryyy verrryyy Big THANKYOU
@Master,
Conservatively Holding below 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....
Should be
Conservatively Holding above 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....
Good Morning Dear Sir, Bros. &Sis's,
Have A Happy Settlement Day.
Namaste Ilango Sir and blog friends
LV
Very Good Morning Master and friends.. have a great day..
Master with your permission --- Lets have Expiry day close contest for July-2014
9.00-14.30 - Start and end time of the contest
Close number - Single close number - no range is allowed
Reason - Should be with a reason for choosing the particular number.
Cheers
goodmorning illango sir & blogmets
Good Morning to Ilango Sir and Friends.
gudmorning master and all frnds
New Post Done.
Good Morning Ilango Sir and Friends
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