FII's have started to sell for the last 3 days, after 9 days of buying- a resumption of consolidation within the major uptrend.
Prices, in the short term, have closed below the two key ST averages. (As long as prices close below these, technicals remain weak; only a close/sustaining above it would reverse the ST trend)
The ST direction is "biased DOWN", as long as prices stay below 7721 & close below 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 below 7656-70(50%-61.8%, DLEma,Wk.Pivot, 20DSma), Conservatively Holding below 7721(61.8%), downtrend continues....
Aggressively Holding above 7628(WEma), mild strength possible....
The 4th wave debate has been explained with the chart below..
13 comments:
Namaste Ilango Sir and blog friends
LV
Good Morning Dear Sir, Bros. &Sis's,
Have A Happy Day.
good morning master...
Good Mng Sir and Friends.
Good Morning Sir & Friends...
GM Sir n friends. Anyone seeing a WW + pattern on Reliance forming ?????
Good Morning Sir & JN Family
Respected Master and blogmates Good Morning
Good morning Sir and Friends.
Good Morning Ilango Sir and Friends
BNF to find support around 15267 - 15250 level which is its 25SMA. below this probable MAYHEM
New Post Done.
WW++ pattern if at all on Reliance Future shud b completed around 983 level
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